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Michigan Bar Journal Review of Trial & Heirs

andrewwmayoras — Tue, 08 Jun 2010 13:51:16 +0000

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.

Judge rules that Feng Shui Master forged Nina Wang’s will

andrewwmayoras — Mon, 08 Feb 2010 20:54:34 +0000

The Nina Wang case captivated Asia in much the same way the Brooke Astor case made headlines in New York last year. Only, instead of questions surrounding whether a multi-millionaire’s will was invalid, the Nina Wang case involved whether Tony Chan Chun-chuen forged the will of Asia’s richest woman, to the tune of about thirteen billion dollars, according to some estimates. She died at age 69 in 2007.

The case raged for months, and The Probate Lawyer Blog featured several articles about it. The Hong Kong judge carefully deliberated since closing arguments took place in late September. Earlier today, the High Court released the 326-page ruling that declared Wang’s 2006 will to be a forgery.

Tony Chan contended that Wang had left him her fortune because, rather than being a mere feng shui adviser for her, he was also her secret lover. Of course, he was married during the affair. And he was 20 years younger than she was.

Lawyers for the Wang family and charities (the vast majority of her fortune from the prior will, in 2002, was earmarked for charity), said Chan forged the new will. They also claimed, alternatively, that Chan had tricked her into signing it by declaring it to be a “feng shui will” that he was supposed to destroy as part of a ceremony to help extend her life.

If you’re interested, you can read the Court’s decision here (don’t worry, the helpful Hong Kong Court also provided a much shorter summary of the long legal document which is also available through the same link). Here are the highlights:

Nina Wang did have an intimate relationship with Tony Chan, but she wanted to keep it a secret. Despite giving him lavish gifts and payments of money, she didn’t want to give him her entire fortune.

Rather, she held true to her wishes in the 2002 will, leaving most of her wealth to charity.

Wang did, in fact, sign a new document in 2006. But it wasn’t the will Tony Chan said it was. No — that one was forged . . . through a “highly skilled simulation”. Instead, Wang signed a Specific Bequest Will leaving Chan $10 million (poor guy).

The Judge didn’t find Chan believable — pointing to his criminal past, among other reasons. Chan lied and withheld relevant information from the Court, the Judge said. And, the 2006 will was written in English, not Chinese like the 2002 will.

The judge also said he didn’t believe Chan’s wife either, who also offered testimony to support the validity of the 2006 will.

Chan’s lawyer already promised an appeal. But, Chan has other concerns in the meantime. Chan may be referred for criminal prosecution based on the finding of forgery. And he won’t even have the $10 million from the “Specific Bequest Will”. That partial will wasn’t located and Chan didn’t offer it for admission to the Court. So he may not even get that amount.

The real irony here is that Chan’s path is eerily similar to Nina Wang’s. Her husband was kidnapped in 1990 and was never found. (In fact, that’s how she met Chan — he was supposed to help locate her husband). After Wang’s husband was declared dead, the father-in-law challenged the will that left Nina Wang everything.

And, just like in this case, the will was found to be a forgery and Nina Wang was charged criminally.

But, Nina Wang ultimately won on appeal and was exonerated. She inherited her husband’s fortune, despite originally losing her case. Will her feng shui master/former lover be as lucky on appeal?

Feb 4, 2010 Update — Tony Chan has been arrested because of the ruling. Read the story here.

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.

Andrew and Danielle — Sat, 21 Nov 2009 20:20:26 +0000

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Now available for pre-order!

Andrew and Danielle — Fri, 23 Oct 2009 20:28:59 +0000

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Trial & Heirs: Famous Fortune Fights! is now available! Click here for a FREE PREVIEW, or you can buy the book today.

Learn more ABOUT THE BOOK, or read ABOUT THE AUTHORS. If you’re a member of the press, please visit the PRESS & INTERVIEWS page. And don’t forget to sign-up for updates to the right.

Recent ‘Famous Fortune Fight’ blog articles…

New Book To Help Avoid Celebrity Estate Planning Blunders

andrewwmayoras — Thu, 08 Oct 2009 02:22:44 +0000

“Trial & Heirs: Famous Fortune Fights!” Explores High-Profile Cases & Offers Expert Advice

The highly publicized estate battles of several deceased celebrities have cast a bright spotlight on the importance of having the proper estate planning. Although mega-rich celebrities seem to be affected overwhelmingly by these brutal family squabbles, the new book

“Trial & Heirs: Famous Fortune Fights!” is designed to help every family, regardless of income level, avoid the financial pitfalls that drained bank accounts and created huge family rifts for the dozens of superstars profiled in the book.

“Trial & Heirs” uses real stories to help readers steer clear of the same celebrity “estate errors” as they plan for their own “heirs.” The stories cover well known legal fights over famous fortunes: including the recent battles over Michael Jackson’s estate, along with other celebrities like Ted Kennedy; Anna Nicole Smith; Brooke Astor; Heath Ledger, Ray Charles; Princess Di; Jimi Hendrix; Frank Sinatra; Martin Luther King Jr.; and Rosa Parks… as well as many others that most people aren’t even aware of. The book gives readers a front row seat in the courtroom while the authors replay the “tabloid drama”, point out what went wrong in these riveting cases, and teach readers how to avoid similar errors.

“Trial & Heirs: Famous Fortune Fights!” was written by co-authors Andrew Mayoras and Danielle Mayoras, legacy expert attorneys with strong reputations and extensive experience in estate planning, probate, elder law, and litigation. The husband and wife team are two of the co-founders of The Center for Elder Law, The Center for Special Needs Planning, and The Center for Probate Litigation.

“Here we have common problems that could easily be avoided,” says co-author Andrew Mayoras, a probate litigator who writes the popular Probate Lawyer Blog. “We want to teach people about the importance of proper legacy planning, because these fights don’t just happen to the rich and famous,” he says. Andrew says because his job is battling in the trenches of probate court, he sees first-hand the devastation caused by poor planning. “If by writing this book we help keep families from feuding in court, then we’ve accomplished our mission.”

Co-author Danielle Mayoras agrees. “As an estate planner and educator, the most frequent question I’m asked is: ‘How do I get my parents to talk about these issues?’ This book is the answer,” says co-author Danielle Mayoras, a professional speaker, attorney, and credentialed professional gerontologist. “Our goal was to take a difficult topic that no one wants to talk about and make it fun and entertaining with the use of famous stories.” Danielle says they want to spark people into action to protect their families and legacies through the proper estate planning.

The book is scheduled for a November release from Wise Circle Books and is listed at $19.99. It is already getting rave reviews from many who have seen advance copies, including: Hollywood producers Karen Baldwin and Ken Wales, national radio talk show host Danny Fontana, famed Hollywood publicist Michael Levine and more.

For more information or to request a preview of “Trial & Heirs: Famous Fortune Fights!” visit TrialAndHeirs.com.

To schedule an interview with Andrew and Danielle Mayoras, please contact Toni Burge at prmedia.contact@gmail.com or Todd Brabender at todd@spreadthenewspr.com.

New book coming soon!

Andrew and Danielle — Thu, 24 Sep 2009 22:46:36 +0000

Announcing Trial & Heirs™: Famous Fortune Fights! — the forthcoming book from legacy expert attorneys Danielle & Andrew Mayoras.

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Learn more ABOUT THE BOOK, or read ABOUT THE AUTHORS. If you’re a member of the press, please visit the PRESS & INTERVIEWS page. And don’t forget to sign-up for updates to the right.