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More fireworks for the Gary Coleman Estate

June 9, 2010 By Leave a Comment

The Probate Lawyer Blog posed the question a few days ago:  Will there be a fight over Gary Coleman’s estate ?  It looks like we have an answer — a resounding “Yes!”. And it all centers around Gary Coleman’s final wishes.  The 1999 will has been released.  You can download Gary Coleman’s Will (courtesy of TMZ). It’s very brief (all of a page and a half), and it appoints his friend Dion Mial as executor and directs that all of his assets be turned over to a trust he created called the Millennium Edge Trust. It also states that he should be cremated and that only those with no “financial ties” to him be invited to his wake.  Coleman wants them to ”look each other in the eyes and say they really cared personally for Gary Coleman.”  And no members of the press are invited! Based on this language, ex-wife Shannon Price may not be included.  It sure looks like she has financial ties to him — at least, if she has anything to say about it. She says that Coleman hand wrote a new will (or more specifically, a codicil) in 2007 that left her everything. There are only two problems with this.  For one, Utah law (where Coleman lived when he passed) provides that wills and other instruments (meaning trusts, beneficiary designations, etc.) naming a divorced spouse are null and void, unless they were written after the divorce was final.  So a 2007 will or codicil wouldn’t help Price, who was divorced from Coleman later than 2007. The second reason is that former Diff’rent Strokes co-star Todd Bridges says he has a different will — a secret will no less — that spells out what Coleman really wanted.  It doesn’t appear to favor Price, and Bridges says it certainly doesn’t name Coleman’s parents (from whom Coleman was estranged because they stole money from his trust fund — according a court of law that ruled in favor of Coleman after he sued his parents). Bridges also says that he believes Coleman is entitled to a handsome pension from his acting days, just like Bridges gets, and that Coleman did not make arrangements for Shannon Price to receive this money. So does Shannon Price have any financial ties to Coleman?  According to the executor, Mial, she sure does.  He accuses Price of selling death-bed photographs of Coleman, from the hospital, to Globe Magazine.  He also says she was raiding his home of personal property. Price at first denied selling the pictures, but a spokesperson later backed off, admitting she really needed money. Price also vows to fight for the handwritten will and for her claim in the Coleman Estate. And she plans to spread his ashes on a train track, because he loved trains.  We doubt Mial, the estate executor, will let that happen, because he’s in charge of Coleman’s final arrangements.  At least, he is in charge until the “secret will” is filed with probate. All this drama and we’re only a week and a half past the day Coleman died.  What’s going to happen next week? Celebrity estate battles seem to be growing in frequency.  While they are interesting to read about, they can also be educational and help your family avoid fighting in probate court like the celebrities’ heirs.  Want to find out how?  Trial & Heirs can help. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of Trial & Heirs: Famous Fortune Fights! and husband-and-wife legacy expert attorneys.  As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand.   Email them at contact@trialandheirs.com .

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More fireworks for the Gary Coleman Estate

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Widow of England millionaire in an interesting estate fight

May 3, 2010 By Leave a Comment

Battles over the assets of those who have passed are far too common, for millionaires and non-millionaires alike.  Usually they involve whether someone was competent when a will or trust change was made, whether a joint bank account owner was supposed to share with the rest of the family, who gets the wedding ring, or other disputes over money and property. But some fights aren’t about money.  59-year old Andrea Walker was crushed when her 64-year old husband died of pancreatic cancer last August.  The couple (who owned a 1000-year-old castle turned into a luxury hotel) had a rocky relationship at times.  In fact, the husband, Brian Walker, reportedly told Andrea he was leaving her in November, 2008, only to return when his cancer was diagnosed a few months later.  They were very close in the months leading up to his demise, with Andrea devoting herself to Brian’s care. At least Andrea thought they were very close.  Shortly after he passed, she found a red file Brian had kept. What was in it?  A series of documents showing that Brian had donated sperm to a lady he was friendly with.  Andrea was shocked.  She had yearned to have children with Brian, but he steadfastly refused — saying he was too old (he was in his late 40’s when they met).  Andrea was always sad that they never had a family together. So, not surprisingly, she couldn’t bear the thought and betrayal of Brian giving his sperm to another woman without telling her.  Brian had even given more than $100,000 to the woman, including credit card payments to the IVF center less than a month before he died. So Andrea sued the fertility center seeking to have the medical records released to her and the donated sperm destroyed.  The IVF center says that, legally, the wife doesn’t need to consent to the donation of sperm, so they intend to honor the documents Brian signed.  They say that Brian and his female friend told them they were “partners”.  Reportedly, Brian wasn’t romantically involved with the woman (although Brian did have an affair a few years earlier with someone else). Andrea’s lawsuit claims the signatures of Brian are forged.  She also seeks to change the law to require the spouse’s consent in a situation like this. If she fails, and the child is conceived and born, will the baby be entitled to a share of the millionaire’s estate?  It’s an interesting question. London’s Daily Mail newspaper has the complete story here .  While fights over frozen sperm (especially a millionaire’s frozen sperm) are rare, probate and estate related lawsuits do happen more often than most realize.  Good estate planning is the best source of prevention. But when a loved one is determined to betray someone — like poor Andrea — there’s usually nothing than can be done to stop it ahead of time.  That’s when it’s time to consult with an experienced probate litigation attorney and learn what options are available. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial and Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys. As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand. Email them at  contact@trialandheirs.com .

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Widow of England millionaire in an interesting estate fight

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Did insurance fraud led to murder of an elderly woman?

May 3, 2010 By Leave a Comment

The Stephen Hilbert family is well known in Indiana.  Hilbert founded insurance giant Conseco, which he ran until he was forced out because he owed the company hundreds of millions of dollars.  When the company sued Hilbert to collect the giant debt, he tried to hide behind a series of trusts to shelter his fortune.  Our book, Trial & Heirs:  Famous Fortune Fights !, includes the Hilbert story to highlight what trusts are not intended to be used for. But now Stephen Hilbert and his family are in the news for a different reason.  Hilbert’s mother-in-law, Germaine “Suzy” Tomlinson, died under very questionable circumstances on September 28, 2008 at age 74.  Her death was ruled an accident.  Hilbert an d his wife aren’t so sure.  Tomlinson was found fully dressed, face down in her bathtub, where she had drowned after a late night of drinking at a night club.   [See picture which reportedly was taken the night before she died] There was broken glass, a shelf knocked over and a broken faucet knob in the bathroom.  The coroner found no bruising but questions how the water was turned on.  Hilbert says it doesn’t add up. Here’s where it gets really interesting … there was a 15 million dollar life insurance policy on Tomlinson’s life.  That’s a big policy!  And who was the beneficiary named to receive this fortune?  It wasn’t any of her family members. Instead, the $15 million was left to a trust Tomlinson had created.  While she had told the insurance company that the policy was purchased to benefit Hilbert’s wife and other family members, the actual beneficiary, through her trust, was a business called Carlson Media Group.  The company is run by a 36-year-old man named JB Carlson.  He was not only a social friend of Tomlinson, but he was the last person to see her alive.  He says he drove her home from the bar because she was too drunk to drive and he left her (alive and well, he says) in the living room of her house. The insurance company on the hook for the $15 million isn’t buying all this.  They sued Carlson and his company to invalidate the insurance policy, saying it was obtained by fraud and lacked an “insurable interest”.  This means that beneficiary is not a family member and has no other close relationship to the person who died which would have justified the policy.  This legal requirement prevents strangers or acquaintances from buying policies on people as a twisted type of investing. Carlson says the policy was legitimate, because Tomlinson was a “key man” for his company.  Indeed, that can be a valid reason for a policy — companies purchase insurance for owners or other key members of their businesses all the time.  But, again, there are suspicious facts.  The policy paperwork indicated that it was obtained for estate planning, not to protect the business.  And the financial information submitted for Tomlinson said she was worth $46.7 million – nearly $40 million of which was from stock in Carlson Media.  Carlson admits that the true value of that stock was nowhere near $40 million.  In fact, documents uncovered by the insurance company show that Tomlinson had very few assets and her annual income was less than $17,000. So who paid the large premiums for this insurance policy?  Carlson’s company, of course.  But it had to take out a substantial loan to pay the annual premiums.  When that loan was set to come due, it tried to refinance the loan, but the refinance efforts fell through.  As a result, the company was about to be in default.  In fact, the loan was due only two days after Tomlinson died.  So it seems her death occurred just in time for Carlson’s business.  At least, it would have if the insurance company had paid the policy without investigating what happened. And, of course, when that company discovered these questionable circumstances, it sued rather than pay the money.  And now Hilbert’s wife and her siblings have joined the lawsuit saying that the money should be turned over to them, as their mother really intended. They claim that Carlson and others concocted this fraud to take advantage of an unsophisticated elderly woman. And it just may have ended in murder. The lawsuit is scheduled for a jury trial in October of this year.  If the case doesn’t settle beforehand, it promises to be a doozy. Whether or not Tominlson died accidentally, there is no question that someone took advantage of her.  Elderly women with little income or assets shouldn’t be anywhere near a 15 million dollar life insurance policy.  Why this particular situation may seem unusual, scams targeted at seniors are far too common.  Sometimes they involve sales of shady annuities .  Other times there is undue influence designed to coerce a new will or trust.  Or it may be outright theft. Here are some warnings signs of financial abuse and exploitation families should watch out for.  Many families don’t want to pry into the financial affairs of their elderly loved ones for fear of offending them.  Certainly Hilbert’s wife wishes she had done so. Families can share stories like this one with parents and grandparents to break the ice and open the conversation to protect aging loved ones from scams. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial and Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys. As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand. Email them at  contact@trialandheirs.com .

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Did insurance fraud led to murder of an elderly woman?

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NY Times has interesting feature about Mark Twain’s will

April 23, 2010 By Leave a Comment

Yesterday marked the 100th anniversary of the death of Samuel L. Clemens, better known as Mark Twain.  The New York Times commemorated his passing with an interesting article about his final wishes.  The reporter dug up a copy of his handwritten will from the dusty archives of the probate court in Redding, Connecticut, which Twain called home until he died. The Times also published copies of other probate records from his estate, including a detailed inventory that listed the property he owned at death.  The executors reported his assets to be worth $541,136.07 (give or take a few cents) as of the date of his passing.  Not a bad sum for a man who found himself broke late in life and rebuilt his fortune in the ten years before he passed. His largest asset was “50 shares of the capital stock of the Mark Twain Company” valued at $200,000.  He owned a great deal of other stock, a 230-acre homestead, some automobiles, three horses and a cow.  The court documents detail his various holdings, including the value of furnishings of each room of his house. So what were his final wishes?  Twain left everything to his two daughters.  Sadly, one of his daughters, Jean, died on Christmas Eve 1909, only a few months after he wrote his will (on August 17, 1909).  Reportedly, Twain took the loss of his daughter hard.  The New York Times obituary said that he “Died of a Broken Heart.” Twain gave each daughter 5% of his total estate to start, with the rest held in trust for the two of them.  The protective father specifically directed that their shares were to be “free from any control or interference on the part of any husband she may have.”  The income from each trust was to be paid to the daughters on a quarterly basis, and each had the right to direct who would receive what was left when she passed.  But, because Jean died before her famous father, the other daughter, Clara, became the sole beneficiary. Twain also directed that his literary works be managed through consultation with Clara and a close friend of his, both of whom he had told how he wished his cherished writings to be handled. Here is the link to the New York Times article , which in turns has links to the documents themselves and the original Times obituary.  So how can the New York Times publish these documents?  Because wills and related filings in probate court are public record.  Trusts – on the other hand – are not, at least when they are created during life (thus the term “living trust”).  Twain’s will spelled out (in detail) how he wanted his property to be held in trust for his daughters.  This means he created a “testamentary trust” because the trust was established through his will and did not exist until after he died. In today’s day and age, living trusts are much more common and make more sense than testamentary trusts.  When properly used, they can avoid probate court entirely.  This not only keeps a family’s affairs private, but reduces costs, legal fees, time, stress, aggravation, and sometimes even hundreds of thousands of dollars (or more) in estate taxes.  Want to read more about celebrity wills, trusts and estates, and how they can help your family and legacy?  Visit our website www.TrialAndHeirs.com to learn more. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial and Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys. As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand. Email them at  contact@trialandheirs.com .

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NY Times has interesting feature about Mark Twain’s will

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Farrah Fawcett trust in the midst of ugly lawsuit

April 6, 2010 By Leave a Comment

Richard Francis is the trustee of The Fawcett Living Trust, Farrah Fawcett’s trust which details how she wanted her money to pass.  You can read the Probate Lawyer Blog’s prior article discussing this interesting trust here .  On behalf of the trust, Francis sued Hollywood producer Craig Nevius accusing him of embezzling hundreds of thousands of dollars from Fawcett’s company and botching production of a television documentary showing her struggles with cancer. Nevius is not taking the lawsuit lying down.  In fact, he says the entire case is a thinly-disguised attempt by Francis to use money from Fawcett’s trust to protect his own interests.  Nevius had already sued Nevius, as well as Ryan O’Neal (Fawcett’s longtime companion) and her friend Alana Stewart when Nevius felt they wrongly excluded him from producing the documentary, which aired on NBC in May of 2009.  In other words, Nevius says that this lawsuit by Francis is retaliation to get back at him for his lawsuit. But, that’s just the beginning of the fireworks.  Nevius claimed that he was a close friend of Fawcett and one of the first she told when she found out she had cancer in September, 2006.  He alleges that Stewart (whom he describes as “Ms. Fawcett’s self-proclaimed ‘best friend’”) only found out about her cancer from the internet, weeks later.  Nevius states that Stewart was absent from Fawcett’s life “when there were no video cameras present”.  Stewart, Nevius says, weaseled her way into the documentary so she could profit from it — and she published a book to make even more money off of Fawcett by divulging her private medical information. But that pales in comparison to what Nevius says Ryan O’Neal and Richard Francis did.  O’Neal, Nevius’ court papers say, actually threatened to kill Nevius to get him to surrender control of the documentary.  Francis, whom Nevius describes as O’Neal’s business manager, later told Nevius to stay away from Fawcett or “you’re gonna get your ass kicked in by Ryan!  And I mean it!”. Nevius says he only wanted to protect Fawcett and make sure her needs were being met.  But O’Neal and Francis conspired to wrest control of the documentary away from Nevius and lock him out of Fawcett’s life. Nevius also expresses his outrage that the documentary included footage of Fawcett on her death bed and being visited by her son in “a prison jumpsuit and chains”, which he claims Fawcett never wanted to be shown.  Nevius also objects to Stewart and O’Neal both using the documentary to make self-serving statements to benefit themselves. Nevius says the whole lawsuit is an excuse by Francis to line his pockets and those of his attorneys, at the expense of the trust beneficiaries, including Fawcett’s father, who have not received the money they’re supposed to from the trust. Courtesy of Radaronline, you can read Nevius’ court filing here .  The lawyer representing Francis, O’Neal and Stewart has already responded, calling Nevius’ allegations “spurious and outrageous”. So what can you make from all this?  Well, clearly, someone tried to exploit Farrah Fawcett while she was dying from cancer.  Was it Nevius, by allegedly embezzling hundreds of thousands of dollars from her?  Or was it the trio of Francis, O’Neal and Stewart?  We don’t know which side is telling the truth.  We do know that it’s obviously gotten very ugly. But the real tragedy is that cases of exploitation of the sick and the elderly is far more common that most people realize.  Many see those with cancer or other diseases, or mental deficits caused by dementia and/or Alzheimer’s, to be a golden opportunity to get close, cut out others, and end up with the money. It doesn’t just happen to the wealthy, either.  Think someone mentally limited with $100,000 in assets isn’t a target for someone desperate for “easy money?”  They are.  And lawsuits where two sides, both claiming to love someone, duke it out in court over his or her true wishes are a growing epidemic. So talk to your loved ones.  Do the proper planning ahead of time.  Protect them and be wary. Many of our clients  say they never could have imagined it happening to their family.  Fawcett’s loved ones are probably saying the same thing. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial and Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys. As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand. Email them at  contact@trialandheirs.com .

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Farrah Fawcett trust in the midst of ugly lawsuit

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Will contest rages over estate of illustrator Tasha Tudor

April 6, 2010 By Leave a Comment

Tasha Tudor was a beloved children’s book illustrator and author who was considered by many to be a 19-century Martha Stewart.  She lived as if it was the 1800s, on a New England farm.  She even raised her four children for years without electricity or running water.  She illustrated such classics as The Wind in the Willows, The Night Before Christmas, and The Secret Garden. Tudor died at the age of 92 on June 18, 2008, eccentric to the end.  According to the New York Times, she claimed to be the reincarnation of a sea captain’s wife who lived in the early 19th Century and she strove to replicate that life.  Tudor said that, after she passed, she intended to return to the 1830s.  Her estate has been estimated to be worth more that two million dollars.  She left almost all of it to only one of her four children. The will was reportedly signed in 2001 and left everything to her son Seth, and his son Winslow, except for small bequests to the other three children and some of the grandchildren.  Tudor’s will says that she didn’t leave more to her other children because they were estranged. The attack on the will is led by her other son, Thomas Tudor, who says he was never estranged from his mother.  He and his two sisters claim that Seth exercised undue influence to convince their mother to sign that will.  They’ve also claimed that Seth isn’t properly administering the estate, challenging his decision to allow a public memorial service when the will called for no funeral or viewing. The judge appointed a special administrator to handle the estate’s taxes and help determine what the estate is really worth.  In doing so, he noted how he felt it was impossible for the family to ever agree. The Boston Globe has the full story on the case here . As attorneys who regularly handle and educate about estate and trust disputes like this one, we can say that these are always emotional and difficult for everyone involved.  It sounds like the Tudor family feud will be no exception.  That’s one of the reasons we wrote “ Trial & Heirs:  Famous Fortune Fights !”  We use celebrity tales like this one to help families from ending up the same way.  We also include chapters about what families should do if they’re already in a will contest or other family court fight. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial and Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys. As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand. Email them at  contact@trialandheirs.com .

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Will contest rages over estate of illustrator Tasha Tudor

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Dennis Hopper battling his wife; says she’s after his will

February 15, 2010 By Leave a Comment

Dennis Hopper was already fighting against advanced prostrate cancer.  Now the 73-year-old actor is turning up the heat in his battle against his wife, 41-year-old Victoria.  He filed for divorce in January, and according to published reports, the key factor is his will. Victoria is a 25% beneficiary under Hopper’s will.  But, in the case of divorce, the couple’s prenuptial agreement says that she gets nothing.  And that’s the sole motivating factor behind the divorce, according to Victoria.  She blames his three children from a prior marriage and says that Dennis is not making rational decisions, due in large part to the medication he’s taking. In other words, she says it’s all about the estate planning.  And it’s hard to argue with that point.  Dennis Hopper’s lawyer was in court last week, seeking a restraining order against Victoria to keep her away from him.  His attorney filed a doctor’s report saying that his estranged wife is hampering his recovery.  The doctor feels that the less he sees of her, the better. Why?  According to papers filed in the divorce proceeding, Dennis says that she’s after his will.  Dennis claims that in November, Victoria’s mother told him he should change the will and leave everything to Victoria, because he was going to die soon.  Dennis also says his wife and mother-in-law would wake him in the middle of the night and badger him about his will. So, yes, it seems the divorce is all about the estate planning. But who is the bad guy here?  Is it Victoria, a scheming gold-digger after his money?  Dennis says so.  He feels he gave her every luxury he could, which of course only made her want more. Or are Dennis’ children the bad actors?  Are they taking advantage of their father in a weakened state to cut his wife out, so they can get more? Or is it Dennis himself?  Victoria says he threatened to kill her, and she found a loaded handgun and shotgun in her bedroom, despite the fact they were living with their six-year-old daughter. According to Dennis Hopper’s doctor, he’s perfectly capable of making his own decisions and is in fine mental health.  It seems like the Judge agrees, because the divorce is going full-steam ahead.  Dennis got his restraining order a few days ago. So, it looks like Dennis and his children will get their wish, and Victoria will get cut out of the will.  Unless he succumbs to his battle with cancer first, that is. The really sad part of this saga isn’t that it’s happening to the Hopper family.  Rather, to me, the really tragic part is that this type of family drama is far too common.  Families often place aging or disabled seniors in the middle of a tug-of-war over money, especially in second marriage situations.  Do you think people stoop to this level only when millions of dollars are involved? No!  In this economy especially, I see families act just as ruthlessly over $100,000, or even less.  Too many people see sickness and death as a financial opportunity.  And that’s the real tragedy. There is some hope.  A well-crafted estate plan, from an experienced estate planning attorney , is a good start.  And a vigilant family who protects aging or dying loved ones from unsavory sorts is a must. The problem is that spotting the true gold-digger isn’t always easy.  Sometimes it’s a new spouse or girlfriend.  Sometimes, it’s the children from a prior marriage. Either way, anyone who thinks that this only happens in Hollywood–and that it can’t happen to their family–needs to think again. Posted by:  Author and probate attorney Andrew W. Mayoras, co-author of Trial & Heirs :  Famous Fortune Fights! and co-founder and shareholder of  The Center for Probate Litigation and  The Center for Elder Law   in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  You can email him at blog @ trialandheirs.com.

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Dennis Hopper battling his wife; says she’s after his will

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The wars over the final wishes of Bill Davidson & Mel Simon

February 8, 2010 By Leave a Comment

William Davidson and Melvin Simon had a lot in common.  Both were billionaires and both were Jewish.  Simon built his fortune through the country’s biggest shopping mall company, Simon Property Group, and Forbes estimated his net worth at $1.3 billion.  Davidson led Guardian Industries Corp., one of the world’s largest glass suppliers, and had a fortune recently tabbed at $4.5 billion. They also each owned NBA franchises in the midwest.  Davidson owned the Detroit Pistons (yeah!), while Simon co-owned the rival Indiana Pacers (boo!) with his brother, Herbert Simon. Both men died last year, with Davidson passing away at age 86 in March and Simon passing in October, at age 82.  And both were survived by spouses as well as children from prior marriages. And, in both instances, the spouse and the children from the prior marriage did not see eye to eye.  Because of that, both the Davidson Estate and Simon Estate are mired in lawsuits about the true wishes of the beloved billionaires. In Davidson’s case, there are actually multiple lawsuits that have recently been filed.  An Israeli company and a Jewish charity started the legal actions claiming that Davidson (a renowned philanthropist who generously supported many charitable causes, especially Jewish and Israeli ones) had promised them sums totaling $20 million.  The problem was that Davidson’s revised will, signed only one week before he died, did not include money for these Jewish and Israeli causes. Karen Davidson, Bill’s wife, supports the company and charity, and she has actually joined in the request for funds, even though, as Bill’s wife and a primary beneficiary of her estate, Karen stands to lose millions if the money is taken from the estate to pay these claims. Opposing Karen and these claimants are the two co-executors of the Davidson estate, which includes the husband of Karen’s step-daughter.  The son-in-law pointed to a dispute amongst the beneficiaries as a reason for refusing to provide the money. Yet these $20 million disagreements pale in comparison to the family feud surrounding Mel Simon’s Estate.  He signed a new will and trust seven months before he died that drastically reduced the inheritance to his three children, to the benefit of his wife of 37 years, Bren Simon.  In fact, reportedly, Bren will receive one-half of the fortune, instead of one-third, with the children being cut out. Deborah Simon, Mel’s daughter, filed the lawsuit a few weeks ago.  She claimed that Mel was ill from pancreatic cancer, dementia and neurological disorders which impaired his understanding and his ability to sign the new documents.   In fact, she says, he wasn’t even able to hold the pen or the documents to sign his name, and someone else had to move his hand for him. Mel’s wife, Bren, counters that the documents were valid.  Mel fully understood and desired to make the changes, she says, to protect his wife from his children, and because he wanted to compensate her for loss in value of company stock.  Bren admits that Mel needed help signing the estate planning documents, because he suffered from symptoms of Parkinson’s disease. Mel’s wife, Bren, counters that the documents were valid.  Mel fully understood and desired to make the changes, she says, to protect his wife from his children, and because he wanted to compensate her for loss in value of company stock.  Bren admits that Mel needed help signing the estate planning documents, because he suffered from symptoms of Parkinson’s disease. As a probate litigation attorney who regularly handles will disputes and trust contests like these cases, I see these types of family fights affect people on a daily basis.  While millionaires and billionaires do seem to attract these legal battles more often (as covered in Trial & Heirs:  Famous Fortune Fights !), the reality is that they are also far more common than people realize, even for middle-class families. The exact same type of legal fights surface over estates worth hundreds of thousands, or even tens of thousands.  When a will or trust is changed and family members are cut out, or someone is convinced that a promise was made and not fulfilled, estate disputes are usually just around the corner. The best prevention remains a good estate plan with an experienced estate planning lawyer.  Despite this, two-thirds of adults in this country don’t even have wills. Don’t let this happen to your family!  Work with a good attorney and plan ahead.  And if you do suspect a loved one has been a victim of undue influence, or has been coerced to sign new documents when not mentally competent, learn your legal rights by working with an experienced probate litigation attorney. As the Davidson and Simon estate battles will demonstrate, these court proceedings are long, expensive and emotionally-draining for everyone involved. Posted by:  Author and probate attorney Andrew W. Mayoras, co-author of Trial & Heirs :  Famous Fortune Fights! and co-founder and shareholder of The Center for Probate Litigation and The Center for Elder Law in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  You can email him at awmayoras @ trialandheirs.com.

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The wars over the final wishes of Bill Davidson & Mel Simon

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The Revlon chairman’s ill-fated family fortune fight

January 25, 2010 By Leave a Comment

CNN’s Fortune Magazine recently had a fascinating article about Ron Perelman’s efforts to drag his paralyzed, infirm, and elderly ex-father-in-law through one of the most vicious estate battles we’ve seen in a while. Perelman built most of his billion-dollar fortune through a hostile takeover of Revlon.  In the process, he married and divorced four women, one of whom was Claudia Cohen (actress Ellen Barkin was another).  Cohen came from a wealthy family herself.  Her father and brother own and control Hudson Media, a powerful magazine company that is a long-time partner of Time, Inc.  Sadly, Claudia died after a difficult fight with cancer in 2007.  Her will appointed Perelman as her executor.  She named Samantha Perelman, her teenage daughter from their marriage, as her primary beneficiary. Claudia’s will made her wishes very clear, including her strong desire to protect the relationship between Samantha and Claudia’s father, Robert, and brother, James. Instead of following this wish, Ron Perelman did just the opposite.  He filed several lawsuits against Robert and James, despite the fact that Robert was in his eighties and had been ravaged from a severe form of Parkinson’s disease that left him paralyzed and barely able to speak.  Why?  Ostensibly to protect his daughter.  But the Cohens say it was a hostile takeover attempt of their valuable Hudson Media enterprise. Perelman’s lawsuits claimed many things, but the primary allegation was that the Cohens were supposed to give money to Samantha.  A whole lot of money, in fact.  Perelman felt she was entitled to one-third of the Hudson Group and claimed Robert had even promised to give one-half of his entire fortune to Claudia (and therefore, it would have gone to Samantha when Claudia died, the claim went).  Perelman hired aggressive lawyers and battled as hard as he could — even subjecting Robert to two days of testimony, despite the fact he was in a very frail condition, all the while arguing that Robert was not mentally competent.  When the dust settled, Perelman lost on every claim.  The Judge over the primary case expressed her shock at the claims.  She expressed her outrage about Perelman stooping to sue a severely disabled and dying man so that his extremely wealthy daughter would receive the same amount of Robert Cohen’s fortune as Robert’s only living child. In the process, Perelman spent legal fees that reached into the millions.  And all of it was for nothing.  Despite his dramatic defeat, Perelman still isn’t ready to give in.  The CNN Fortune article says that Perelman is appealing, or preparing to appeal, each and every claim he lost.  You can read the whole article here .  And who paid for these millions of dollars in legal fees?  Not Perelman.  Rather, it was his ex-wife’s estate.  In other words, it came from the money that was left for Samantha. Along with the monetary cost, Perelman’s aggression seems to have fractured the very relationships that Claudia desperately wanted to protect, according to her will.  18-year-old Samantha filed affidavits and even testified against grandfather and uncle, fully supporting her father.  Not exactly fostering the family relationship, is it? It’s a sad story, all the way around.  But, as with all of these family fights over money, it shows just how important good estate planning is.  While it can’t stop every estate battle, the proper legal planning is the best prevention. Of course, when the person in charge of the estate or trust chooses to start a fight that should never be started, it doesn’t matter how good the planning was.  So, when you prepare your will or trust, make sure you choose your executor or trustee wisely.  Certainly, Claudia would wish she had. On the other hand, some have argued she didn’t really make this choice at all.  Interestingly, Perelman only became her estate executor when Claudia changed her will one month before she died, while she was in the hospital fighting a losing battle to cancer.  Posted by:  Andrew W. Mayoras & Danielle B. Mayoras, co-authors of Trial & Heirs :  Famous Fortune Fights! and co-founders and shareholders of  The Center for Probate Litigation and  The Center for Elder Law   in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  Andrew & Danielle are husband and wife attorneys.

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The Revlon chairman’s ill-fated family fortune fight

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6 Tips to Avoid Exploitation of Elderly by Family Member

January 25, 2010 By Leave a Comment

Danielle Mayoras was recently quoted in this interesting article by the Detroit Free Press about the growing epidemic of exploitation of the elderly.  It discussed a very sad case where a daughter took hundreds of thousands of dollars from her elderly mother and now is in jail saying the money is gone and she can’t return it. This is one example of how more and more families are facing the devastation caused by exploitation of elderly loved ones, often by a family member or caregiver. So how do families protect their golden seniors, whose lifetime of savings can often be a tempting target for desperate or unethical people?  There are no magic answers, but here are a few Trial & Heirs Tips that we provided to the Detroit Free Press which ran next to the newspaper story: 1. Get expert advice. Consider consulting an estate lawyer who will know the ins and outs of estate planning. It’s usually money well spent. 2. Beware of Joint Accounts . When you add someone else’s name to your accounts, they usually can remove money even without a durable power of attorney. 3. Consider a “Springing” Power of Attorney. Your attorney can draft the Power of Attorney so that it only takes effect when you are found to be incompetent. 4. Choose Wisely. You should designate individuals to act on your behalf that you trust the most, not merely the oldest child or the closest relative. 5.  Have Checks and Balances. Talk with your attorney about designating more than one person, but to avoid fights consider having a tie-breaker or majority vote. 6.  Select Someone to Monitor your Accounts. You can give another family member, or even a trusted advisor, the ability to monitor your accounts, such as internet banking, to make sure that your assets are protected. Posted by:  Andrew W. Mayoras & Danielle B. Mayoras, co-authors of Trial & Heirs :  Famous Fortune Fights! and co-founders and shareholders of The Center for Probate Litigation and The Center for Elder Law in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  Andrew & Danielle are husband and wife attorneys.

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6 Tips to Avoid Exploitation of Elderly by Family Member

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