More fireworks for the Gary Coleman Estate

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

Michigan Bar Journal Review of Trial & Heirs

The State Bar of Michigan’s montly journal has recently reviewed our book, Trial & Heirs:  Famous Fortune Fights! .  Here are some of the highlights: After reading Trial & Heirs, I am convinced that I need an estate plan. It’s time to get serious about, you know, death.  Danielle and Andrew Mayoras, Michigan estate-planning attorneys who are married to each other, have written a lighthearted book. But a reader can’t miss what they’re really talking about: the dreaded D-word. Isn’t the whole point of estate planning to plan for your own inevitable death? Luckily, the Mayorases probably agree with Bugs Bunny: “Don’t take life too seriously; no one gets out alive.” The whole point of estate planning is to control your property from the beyond. Or, if the decedent (legalese for dead person) is a bit more altruistic, to lessen the pain of death, taxes, and unnecessary disputes for survivors. And most disputes are avoidable. In fact, “Avoid a family fight!,” a sidebar in every chapter, is one of the more important features of this book. We all know nice people from loving families who, after the death of a parent, suddenly became greeneyed monsters. These sidebars discuss, very briefly, how to slay the monster—or, better yet, avoid the monster’s appearance altogether. The authors offer tips, some obvious and others not, for avoiding disputes. In one sidebar, for example, the tip is to avoid fighting because of the legal fees the estate will incur (and this from two lawyers!). The authors give two examples: the Johnson & Johnson legacy, which took 210 lawyers, 22 law firms, and $24 million in fees (the wife, a former chambermaid, took $300 million); and the Leona Helmsley estate, which was settled between her grandchildren and her dog (Trouble, the dog, took $2 million). Mere mortals like you and me needn’t worry about estates of that size, but everyone should be concerned about the emotional costs of family fights. And family fights result from poor estate planning. Where there is uncertainty in a will or estate plan, there will be unrest. Where there are gaps, there will be greed. And where there are mistakes, there will be fights. * * * If you are an estate-planning lawyer, you shouldn’t read this book. Do read, however, the “official disclaimer” on the first page; it’s clever. But consider buying the book in bulk as gifts for your clients or as a marketing tool. You’ll have to accept the overuse of exclamation points, the overdone design, and the celebrity caricatures that are not all recognizable.  But remember that an informed client is a better client, and a client who understands some of your language is one who is easier to talk to. I bet you can get a quantity discount from the publisher. What do they mean too many exclamation points?!?!  How dare they?!!!!  We would never! ever! use . . . well, you get the point. Seriously, if you’d like to read the whole review, here it is . 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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Michigan Bar Journal Review of Trial & Heirs

Five tips for holiday conversations

Across the country in December, families will be coming together for the holidays.  Sometimes the holidays are one of the few times of year that family members see each other. They eat, share stories, and laugh together. Of course, there may be a few family squabbles, but hopefully no mash-potato flinging. Or will there be? Overall, the holidays are rare opportunities for family members to have face-to-face conversations. One critical conversation is talking about estate planning — what happens legally when a loved one passes away. As confirmed by the Washington Post today, the stories in the book are great conversation starters. Of course you could buy the book, but here are some free tips you can use right away.What questions will these tips help you answer? What will happen once mom and dad pass away? Have they done their will or trust?  Is it updated?  Where is it? What professionals do they work with? Where are the documents located? The celebrity stories in “Trial & Heirs:  Famous Fortune Fights!” can help you translate the estate planning talk into a fun and entertaining discussion. Really! Here are some easy-to-use tips and conversation starters taken from the stories in the book. Bring the celebrities home for the holidays. If your family member (mom, dad, sister, aunt, grandma) is reluctant to talk about wills and trusts, begin by sharing some stories about celebrity estate planning.  Start with a story about Ray Charles .  He sat his entire family down (which included 12 kids from 9 different mothers!) and discussed what he planned for his estate after his passing.  Encourage your loved ones to talk to each other like Ray Charles.  Turn the uncomfortable topic of wills and trusts into something entertaining! Find out if your loved ones have done their estate planning. So now you’ve begun the conversation with your family by describing what Ray Charles did, the next question is:  did your loved ones prepare a will or trust yet?  Find out!  Whether we’re 20 or 92 years old, no one is promised tomorrow.  Share the case of Sonny Bono .  He was 62 years old when he unexpectedly passed away in a skiing accident.  Sonny did not have a will or a trust!  His widow endured lots of complications because of Sonny’s lack of planning.  So if your loved ones haven’t done their estate planning, encourage them to make sure to do so. Confirm that they have finished what they started. Maybe you’ve gotten through the first two hurdles, and your family members say, “don’t worry…we’ve taken care of everything”.  Are they sure that they dotted their “i”s and crossed their “t”s?  Share the stories of Heath Ledger who failed to update his will after his daughter was born, and Michael Jackson who caused his family unnecessary trips to the courthouse because he did not properly “fund” his trust. If your loved ones have a will or trust, has it been updated in the recently?  Have they transferred their assets into their trust?  It’s not enough to just “do” the documents, they need to be done the right way and updated with new laws and life changes. Verify that the attorney is a specialist. “Yes,” your loved ones respond, “we just saw our attorney and updated everything.”  Okay… now we’re getting somewhere, but that doesn’t end the conversation.  Does their attorney specialize in estate planning?  If not, going to the attorney to update the documents may not be enough.  Does the attorney use “one size fits all” forms, or customize the documents to your loved one’s needs?  Share the tips on how to make sure that you have a good attorney from “Trial & Heirs” to give your family peace of mind.  Also, make sure that you have the name of the attorney and other professionals in the event that your loved ones unexpectedly pass away. Establish the location of the documents. You’ve almost conquered the list!  You’ve gotten through the first four tips, but where in the world are the documents located?  Your loved ones have done their documents, updated them, and worked with a specialist, but that doesn’t do the family any good if you cannot find them!  Share the story of Florence Griffith Joyner aka Flo-Jo .  Her original estate planning documents were never located and as a result it cost her family a lot of time, money, grief and uncertainty.  Make sure that your loved ones tell you where those critical documents are located and that the trustee or executor can access them.  There’s no point in hiding the will or trust so well that no one can find them or worse, putting them in a safe deposit box that no one can get into! Alright, the holidays are around the corner and now you’re armed with some tips on the conversation that you really need to have with your family this holiday season.  Remember “Trial & Heirs:  Famous Fortune Fights!” has these stories to start the conversation and so many more!  For more information, sign up for a free preview of the book here . ~Danielle B. Mayoras, JD, CPG Danielle has dedicated her legal career to teaching professionals, businesses and the general public about elder law, special needs planning , and general estate planning.  Danielle is a renowned attorney and Credentialed Professional Gerontologist, educating through speaking engagements, print, and broadcast media across the United States.  Her speaking audiences range from nationally recognized brokerage firms, banks, and insurance companies to attorneys, accountants, and non-profit organizations.  She consistently draws rave reviews from audiences and her speaking skills are in high demand. Read more about Danielle here .

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Five tips for holiday conversations

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