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Michael Jackson “Disinherited” Father in Last Will and Trust

Posted on | June 30, 2009 | No Comments

In a case that will surely be publicized to no end, the first of possibly multiple wills (see “What Will Happen if I Die Without a Will?“) executed by Michael Jackson have been submitted to the Los Angeles Probate Court. The will apparently refers to a trust (see “What is a Revocable Trust?“) in which Jackson titled all of his assets. It appears initially that Michael disinherited his father, Joe Jackson, leaving everything to his mother. The court granted temporary custody of Jackson’s children to Katherine Jackson via a guardianship proceeding (see “What is a Guardianship?“). If this probate is anything like Jackson’s life, there will be plenty of drama in the coming weeks.

Category: Current Events
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California Conservatorship Law: Family Fights Over Peter Falk

Posted on | May 31, 2009 | No Comments

Peter Falk, the star of Columbo, is 81 years old and suffering from dementia. His daughter Catherine Falk allegedly instituted the conservatorship (What is a Conservatorship?) because Peter’s wife had refused to let her visit him. Attorneys from both sides are questioning each other’s motives, with Peter’s wife calling Catherine “estranged” and alleging that she is solely interested in Peter’s estate. Catherine alleges that Peter’s long time wife of 30 years has “repeatedly slammed the door on her and her sister when they tried to visit their father at his home in Beverly Hills.” Judge Aviva Bobb is presiding over the case, and the hearings will continue on Monday. Read more about what Judge Aviva Bobb has to say about California Probate Court here.

Category: Probate Litigation
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If You Adopt Your Lover Are You Committing Incest?

Posted on | April 30, 2009 | No Comments

In an article too juicy to pass up, Terry L. Turnipseed writes Syracuse University College of Law writes that:

“For some time now adults - both heterosexual and homosexual - have been adopting their lovers and spouses all over the country for various reasons: to better guarantee the adoptee’s right to inherit directly from the adoptor; to keep collateral relatives from having standing to contest the adoptor’s estate plan; or to add a loved one to a class of trust beneficiaries (allowing the adoptee to inherit “through” the adoptor). It appears that, post-Lawrence, both the academy and the judiciary have completely overlooked this steadily growing, albeit stealthy, trend.”

What will the Supreme Court do? Click here to learn more. Brought to my attention by Professor Beyer.

Category: Estate Planning - Generally
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Probate Lawyer, San Diego California – The New Website Opens

Posted on | March 23, 2009 | No Comments

After three weeks of development, the new probate lawyer section of the San Diego Estate Center Website has officially opened. Called the California Probate Center, the website has a lengthy article base that will grow over time. It is brought to you by San Diego probate lawyer Roy Newman, with details on what to do once you become appointed personal representative in California, and the rights of beneficiaries and heirs. Of course, the entire process of probate can be entirely avoided by using a living trust, but unfortunately a large percentage of the population will never use a trust, or will be sold a defective living trust kit causing the need for added attorney’s fees and court costs. A California trust may cost you more up front, but a simple will is more costly in the end.

Category: Current Events, Estate Administration, Probate, Probate Litigation, San Diego Estate Planning, Will Contests, Wills, Wills and Trusts
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Who Owns Heath Ledger’s Oscar? A Primer in Wills, Trusts, and Guardianship Laws

Posted on | February 24, 2009 | 2 Comments

Before he died, Heath Ledger executed a will (see “What Happens If I Die Without a Will?”) giving his entire estate to his parents and daughter, Matilda. The parents disclaimed any rights to the estate, giving 3 year old Matilda $20 million. Since her parents made the disclaimer, the Oscar statuette then passes to Matilda. However, the Academy has a policy – winners are forced to sign a right of first refusal contract with the Academy – stating that before the actor or actress agrees to sell their Oscar they must first offer the Academy the opportunity to purchase it for $1. This essentially prevents actors from selling the statuette to the highest bidder, thus diluting the brand. Nevertheless, because of Matilda’s age, she cannot legally sign the document until she reaches the age of majority.

A court appointed guardian (see “Why Do I Need a Guardian For My Child?”) could control the statuette until she turns 18, but cannot make a promise that legally binds a child after the child reaches 18, thus exposing the Oscar to possible sale by Matilda. The Academy’s solution was to place the Oscar in trust (see “What Are the Advantages of a Trust?”) naming Matilda’s mother, Michelle Williams as trustee. When Matilda reaches the age of 18, the trust will release the Oscar to her provided she signs the agreement. If she does not, the Oscar must be returned to the Academy. Story via Prof. Beyer.

Category: Uncategorized
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The Estate Tax Will Not Dissappear Under Obama

Posted on | January 15, 2009 | No Comments

The Wall Street Journal is reporting that Barack Obama will block the disappearance of the estate tax in 2010. It is being reported that the Senate Finance Committee will reverse the rollbacks that were being phased in slowly since 2001. As reported earlier on this blog, the Obama campaign plan would exempt estates worth up to $3.5 million with the remainder taxed at 45%. The majority of estates – up to 98% - will pass without being taxed.

Category: Estate Tax
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Last Will and Testament of Paul Newman Admitted to Probate

Posted on | November 25, 2008 | No Comments

The last will and testament of Paul Newman has been admitted to probate. You can see a copy of his last will and codicil here (See “What Will Happen if I Die Without a Will?”). Mr. Newman directed that his race cars and airplanes be sold for fair market value with the proceeds to be passed to the residuary. His Oscars and other awards will pass to Newman’s Own Foundation, and trusts were established to handle his various businesses (Mr. Newman could have avoided the publicity of probate entirely by using a trust – see “Advantages of a Living Trust”). Thanks to Professor Beyer for finding the article.

Category: Uncategorized
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The State of Estate Planning After the Election: Obama’s Proposed Estate Tax Plan

Posted on | November 6, 2008 | No Comments

The dust has begun to settle after the election - and both the legislative and executive branches are controlled by the Democratic Party. If Obama’s estate tax plan becomes law, the $3.5 million exemption of 2009 would be retained, but amounts in excess of that would be taxed at 45%. The top tax rates of prior years (for dual earners over $250,000 or one earner of over $200,000) would be reinstated 26% or more. Additionally, investors who make more than $250,000 per year would see an increase in the capital gains tax to up to 20%.

Category: Current Events, Estate Planning - Generally, Tax
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California Probate Guardianships - No Contest Clauses in a Will or Trust May Not Apply to Minors

Posted on | October 9, 2008 | No Comments

A minor who nominated his mother as guardian ad litem (See What is a California Guardianship?) does not voluntarily participate in a probate proceeding triggering a no contest clause provision in a will or trust. Safai v. Safai, 164 Cal.App.4th 233 (2008).

“The Trust (What is a Revocable Living Trust?) and the will both included ‘no contest’ clauses, with the Trust’s clause stating, as follows: ‘Any beneficiary who directly or indirectly voluntarily participates in any proceeding or action in which such person seeks to void, nullify, or set aside (1) any provision of this instrument; (2) any provision of the Settlor’s will; or (3) any amendment of this instrument or codicil of the Settlor’s will shall be considered to have predeceased the execution of this instrument without surviving descendants[.] The provisions of this paragraph shall not apply to any disclaimer by any person of any benefit under this instrument. The Trustee is authorized to defend any contest or other attack of any nature on this instrument or any of its provisions.’”

The court reasoned that the settlor did not intend “to disinherit his only son in the event that [the son] contested the Trust while still a minor,” even though a “guardian or guardian ad litem is not a party to the action; instead, he or she is a representative of record of a party who lacks capacity to sue.” Thanks to Professor Beyer for bringing this case to my attention.

Category: Probate, Probate Litigation, Trusts, Will Contests, Wills, Wills and Trusts
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Steve Fossett’s Remains May Have Been Found

Posted on | October 3, 2008 | No Comments

Steve Fossett, the adventurer who disappeared while in flight over Nevada’s desert, may have finally been found in California. The disappearance raised probate issues (What is California Probate?) when his wife petitioned the probate court to declare him legally dead and to probate his will (What Will Happen If I Die Without a Will?). Crash investigators have found a “very small” amount of human remains at the crash site and described the crash as “very high impact.”

Category: Estate Planning of the Rich and Famous, Probate, Probate Litigation
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