I Love Lucy star Lucille Ball died more than 20 years ago — on April 26, 1989, at the age of 77.  So why did her daughter rush to court last week to save awards, love letters and other personal items of the famous comedienne?

Reportedly, when Lucille passed, she left love letters between she and her first husband, Desi Arnaz, along with her lifetime achievement awards, photographs and other items to Lucille and Desi’s daughter, Lucie Arnaz Luckinbill.  But, apparently, Luckinbill never claimed the items from Lucille’s estate and lost them.

So they ended up in the hands of Susie Morton.  Morton is the widow of Gary Morton, who was Lucille Ball’s second husband.  After Lucille passed, these items, along with a Rolls-Royce, were passed to Gary Morton, and then onto Susie after Gary died.

Susie Morton placed the items up for sale at a Beverly Hills, California auction house, with the sale set to start this past Saturday, July 17, 2010.  When Luckinbill’s attorney threatened legal action to stop the sale, Morton filed suit first to allow the auction to proceed.  Luckinbill’s lawyer went to court on Friday to stop the sale and won … well, sort of.

The Judge ruled that Luckinbill would be granted a restraining order, but only on the condition she post a $250,000 bond.  Ouch!  Luckinbill couldn’t afford it and the sale was set to go forward.

But it’s not all bad.  Luckinbill’s legal team was able to negotiate a resolution with the auction house, Heritage Auction Galleries, for the return of the lifetime achievement awards.  The love letters, photographs and Rolls still went up for auction though.

Here’s the link to the online auction, in case you want to see the listings.  The auction house website reports the items earned more than $230,000.

Luckinbill’s lawyer had called the auction efforts demeaning and insulting to Lucille Ball’s memory.  Now, he says, the awards will be donated to a museum, instead of being hawked for cash.

Susie Morton says that Luckinbill abandoned the property years ago.  It’s unclear why.

Too many people fail to take action when a loved one passes away, until it is too late.  We’ve had people contact us years after someone dies, wanting to protect their legal rights to an estate, trust or claim property.

Don’t let the emotions of a lost loved one keep you from protecting yourself.  Burying your head in the sand won’t help!  See a good probate lawyer and make sure you receive what your loved one intended.

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.  Find us on Facebook!

It’s been more than 18 months since the daughter of France’s richest woman sued to protect her from a man described as a “dandy” who had received more than $1 billion (U.S. value) in gifts from the owner of cosmetic giant L’Oreal.  You can read The Probate Lawyer Blog’s last article on the case here.

The daughter of 87-year-old Liliane Bettencourt sued Francois-Marie Banier, a 63-year old (male) celebrity photographer who reportedly has befriended Johnny Depp, Salvador Dali and others.  Banier claims the lavish gifts of cash and art masterpieces were given to him by Bettencourt when she was mentally competent as a thank-you for his years of friendship and help as an advisor.

Bettencourt’s daughter, Francoise Bettencourt Meyers, was permitted to sue Banier criminally last year.  This means that if she wins her lawsuit, Banier will not only have to return the money, but also face jail time.  The case was set for trial late last week.

There was already plenty of intrigue surrounding the famous fortune fight over the person who ranks as number 20 on Forbes’ annual list of richest people.  (Bettencourt has a reported net worth of $20 billion.)  But, to make it more interesting, the trial was postponed indefinitely because of new evidence.

What evidence you ask?  Bettencourt’s butler had been sneaking a tape recorder into the room with her when he served refreshments.  With this recorder, he obtained hours of audiotape from secret meetings between Bettencourt and her advisors.

The Associated Press reports that the tapes reveal the elderly Bettencourt was treated like a child in these meetings and was often confused, to the point where she had forgotten having given Banier a private island.  (Now that’s not something easy to forget.)

These tapes also revealed that Bettencourt had almost $100 million stashed away in foreign bank accounts and wasn’t paying taxes on the money.  Reportedly, a top French government official, Eric Woerth, was forced to resign because he knew about it.  Woerth’s wife worked for a company that managed Bettencourt’s money.

Why was this scandalous?  Woerth was France’s Budget Minister.  One of his primary duties was combating tax evasion.  Reportedly, Bettencourt was a big donor to Woerth’s political party (which also includes the French President).

Financial exploitation (alleged financial exploitation at this point — but it sure doesn’t look good for Banier) sure can be messy.  But the sad part is that it is far from an isolated occurrence and it certainly doesn’t  affect only the wealthy.

It’s a growing epidemic in this country.  The National Center on Elder Abuse has estimated that there are up to five million victims each year.  Here are the Center’s Warning Signs of Elder Financial Abuse.

This is a serious problem, especially with the turbulent economy.  Many perceive seniors as easy marks with available savings to exploit.  Don’t let this happen to your elderly loved ones.

Be proactive.  Watch over your aging family member’s finances when you suspect trouble (or when they show confusion, memory loss or other signs of dementia or Alzheimer’s disease).  And don’t hesitate to seek the help of an experienced elder law or probate litigation attorney, or another expert who can help.

Bettencourt’s daughter was smart to intervene when she did.  It wasn’t easy for her — she sadly reports that her mother cut off communications with her because of the lawsuit.  Who knows what would have happened if she hadn’t taken action?

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.  Find us on Facebook!

Forbes.com recently featured an article we wrote about our celebrity-based Trial & Heirs‘ Top Five Estate Planning Tips for Divorcees.  Here’s a shortened version.  Go to Forbes.com for the full article:

1. Update your will and/or trust. Life events like divorces are a critical time to update all estate planning documents with an experienced attorney.

Take the case of Gary Coleman.  Since his death, a variety of documents have surfaced purporting to be his will.  We know that Gary Coleman was divorced in 2008 from his wife, Shannon Price.  It was on an episode of Divorce Court after all!  The problem is that Price claims that she’s entitled to inherit all of Coleman’s assets based on a 2007 handwritten will and as his “common-law wife.”  Now it looks like the estate will be tied up in a long and nasty fight.  If Gary Coleman had an estate planning attorney draft a clear will after his divorce, the impending legal battle may have been avoided.

2. Don’t forget the insurance. Many people who get divorced forget to change their life insurance beneficiaries to someone other than their ex-spouse.

Dennis Hopper was locked in an ugly divorce fight with his fifth wife, Victoria Duffy-Hopper.  She blamed his children for convincing him to start the divorce as a way to cut her out of his estate plan.  Hopper asked the divorce judge for permission to change his life insurance policy to remove his wife and their young daughter as beneficiaries.  His request was denied and the judge said that issue would have to wait for trial.  But Hopper died first, and the life insurance was never changed.

3. Act now, even before the divorce is final. Divorces can be extremely messy and may drag on for years. What happens if one of the spouses dies or becomes disabled during the divorce proceedings?

It’s reported that Tiger and Elin Woods are in divorce negotiations now and that Elin is asking for $750 million.  What if Tiger is in a car accident? What money does he want Elin to receive?  It is probably a lot less than what his estate planning documents had dictated prior to the divorce.  Hopefully, Tiger is prepared for the unexpected and has updated his estate planning documents even before the negotiations are concluded.

4. Choose a new executor and/or trustee wisely. If something does happen to you, whom do you trust to make sure that your beneficiaries are financially protected?

A good example of problems that can arise is the nasty battle going on between Ronald Perelman, the billionaire Revlon chairman, and his ex-father-in-law, Robert Cohen.  Perelman was named as the executor under his ex-wife’s will.  In spite of crystal clear instructions in the will that showed that his ex valued her relationship with her father, Perelman launched a series of lawsuits against Cohen in the name of her estate.  He did this even though Cohen was elderly, infirm and paralyzed.  Perelman wouldn’t have been able to do this if his ex-wife hadn’t named him as her executor.

5. Create a new Medical Power of Attorney and Advance Directive. Even if you are comfortable with an ex-spouse making financial decisions, what about the medical decisions?

In Gary Coleman’s case, his ex-wife, Price, did pull the plug after he sustained a head injury and was put on life support.  Is this what Coleman would have wanted? We’ll never truly know, but legally Price had the right to make this decision through Coleman’s advance directive.

Tiger Woods pay heed! Elin already came after you with a golf club (allegedly!), do you really want her making your termination of life support decisions?

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.  Find us on Facebook!

The one year anniversary of Michael Jackson’s shocking death on June 25, 2009 is upon us. While his music and thriller dance moves live on, unfortunately, so do the legal battles over his estate.  Let’s moonwalk backwards through the past 12 months to review the courtroom clashes and combative issues involving the King of Pop’s estate.

June 25, 2009 – Michael Jackson unexpectedly dies at the age of 50 as he is about to embark on a comeback concert tour.

June 29 – Katherine and Joe Jackson, Michael’s parents, file to open the probate estate of Michael.  They allege that he died without a will and ask for Katherine to be appointed to administer his estate.  Katherine filed to be appointed as guardian of Michael’s three children the same day and is granted temporary authority to assume custody of them.

July 1 – John Branca, Michael’s former attorney, and John McClain, his former manager, file their own probate petition, asking the Judge to appoint them as executors of Michael’s estate based on a will Michael signed July 7, 2002.  The will names Katherine as the person Michael wanted to care for his children, with Diana Ross as the back-up.  The assets are left to the Michael Jackson Family Trust.  Estimates of the estate’s value exceed $500 million, despite reports that there was so much debt to render Michael Jackson insolvent.

The Chairman of Revlon, Ron Perelman (who is one of the richest men in the world), recently lost a very heated and ugly probate lawsuit (or more specifically, several different lawsuits), in which he sued on behalf of his ex-wife’s estate.  Claudia Cohen had named Perelman as her executor shortly before she died in 2007. 

So who did Perelman sue?  None other that the father of his ex, Robert Cohen, who was infirm, partially paralyzed and in his eighties at the time.  The Probate Lawyer Blog’s article discussing the case has all the details.

We found the case, and Perelman’s efforts in particular, especially troubling.  And we certainly aren’t the only ones.

In fact, the New Jersey judge who presided over the case recently ruled that Perelman’s lawyers are to be sanctioned because some of the claims they filed were frivolous.  He specifically took issue with their claims Cohen should not be permitted to change his estate plan because he had allegedly “promised” his daughter (who later died) an equal share of his estate.

The judge said that no “competent attorney” could have proceeded with the claims.  In fact, Perelman was the only witness to offer testimony on the topic, and he never even said there was a “promise”.  Yet this lack of evidence didn’t stop Perelman’s lawyers from grilling Cohen during a lengthy cross-examination (during which Perelman could barely speak because of his Parkinson’s disease).  The judge’s ruling called this ”harsh and painful”.

Because of this ruling, Perelman’s legal team will have to reimburse Cohen a portion of the $14 million legal bill he spent defending the lawsuits.  Cohen’s attorney said the amount owed by Perelman’s lawyers will reach into the millions.

It’s very rare for a judge to order these types of sanctions based on a “frivolous” lawsuit.  The American legal system has always employed the concept that each side pays their own attorney fees, except in special circumstances.  A frivolous claim (such as one done in bad faith, or without a valid factual or legal basis) is one of the exceptions to the general rule, but it’s not often employed, especially in a case of this magnitude.

You can read more about the Judge’s ruling, and even read the actual transcript from the court hearing, from Law.com.  The transcript (while quite long) is actually very interesting … at least to probate and estate planning attorneys like us.

We have to applaud the judge’s ruling in this case.  He sent a message that it is not ethical to subject an infirm and elderly man to a terrible legal onslaught based on the argument that he shouldn’t be allowed to leave his assets as he chose, merely because he previously expressed an intent to do otherwise.

How can their ever be certainty with wills, trusts and other estate planning documents if disgruntled family members (or even disgruntled ex-spouses of family members who died), can challenge every document simply by claiming that the person really intended to leave their money in another way?

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.

The Probate Lawyer Blog featured this article about the Michael Jackson Estate several weeks ago, posing the question of whether it is ethical for estate executors to seek a 10% fee for certain business deals they reach for such a high-profile estate.  It’s especially problematic when you factor in that one of the executors was Michael Jackson’s attorney.

Well, this attorney, John Branca, and his co-executor, John McClain (a music executive), just hit the mother-load.  It was widely reported yesterday that they brokered a deal worth up to $250 million dollars (that’s right — one quarter of a billion dollars!). What was the deal for?  Sony announced a seven-year distribution agreement for unreleased music recorded by the late King of Pop (as well as related video footage).

Yes that means that Branca and McClain earned $12.5 million each for one deal.

Why do we question this?  For several reasons, actually.  First, it’s the job of executors to bring in as much money as possible for an estate that has earning potential like this estate has.  They shouldn’t need a 10% incentive to do the job they’re required by law to do.

Second, Branca, reportedly, is the attorney who prepared the will and trust that named him as the co-executor and co-trustee.  Because of these documents that he created, he just made $12.5 million — in addition to the other fees he’s already earned (and will continue to earn).

Would it be ethical for an attorney to create a will for a client to sign that leaves $12.5 million to that attorney as a direct beneficiary?  In most cases, no, it wouldn’t.  So why is this attorney allowed to earn that much as an executor fee?

Finally, there’s the issue which we discuss in our book, “Trial & Heirs:  Famous Fortune Fights!”, that Michael Jackson’s Trust wasn’t funded properly.  If it had been, then his estate would have been kept out of court and handled in private.  It’s also entirely possible that his trust document (which hasn’t been released to the public) may have specified what compensation the trustees would have received.

IF that’s the case (just speculating here), then Branca and McClain wouldn’t necessarily have been able to receive this percentage fee.  But, because Jackson’s Trust wasn’t properly funded, thereby requiring it to pass through the probate court process, it opened the door to allow this type of fee to be approved by the judge (again, if the trust document addressed their compensation, which isn’t unusual).  And the judge did approve the executors’ 10% fee in this case.

A properly-used estate plan would have bypassed court entirely.  Jackson’s estate plan didn’t do that.  The attorney who prepared that estate plan now just earned tens of millions of dollars because of that estate plan.

And it’s all legal.  But is it ethical?

Some feel it is.  After all, Branca is a respected entertainment lawyer and McClain is an experienced music executive.  They have the expertise to broker deals like this.  And clearly, judging by the amount of money they’ve brought into the estate, they’re good at what they do.  And Michael Jackson’s heirs are benefiting from their expertise.

If it’s standard to compensate entertainment industry experts with this type of fee, why shouldn’t Branca and McClain earn what may be considered fair compensation in that line of business?

There is some merit to this position.  After all, Michael’s mother, Katherine Jackson, spent months battling McClain and Branca in court over this estate (until she hired a new attorney, at which time she changed her position).  Yet she didn’t object to their 10% fee.  If a primary beneficiary of Michael’s estate didn’t object to this generous fee, why should anyone else?

What do you think?

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.

Featured on WOWOWOW.COM

Who got the money? Who had the biggest family feuds? The mistakes that were made — and what we can learn from them. Two legal experts in estate planning and the authors of Trial & Heirs have the scoop.

If the recent and sudden death of Michael Jackson taught us something – other than the side effects of too much prescription medication – it’s the importance of a will or trust. Wills and trusts are taboo topics. We’re usually far more inclined to talk about Botox injections or mammograms than how we plan to divide our assets. But (and sorry for speaking so morbidly) once you’re dead, it’ll be far too late to finally address it. That’s why regardless of your age and health (Jackson was 50 and about to go on tour), it’s important to have a proper will — not just for your peace of mind, but for your family’s peace of mind too.

In addition to the King of Pop’s highly publicized estate battles, here’s a glimpse at more late celebrities, who cast a spotlight on the importance of pre-mortem planning. From Leona Helmsley (leaving $12 million to her dog) to former Senator Edward Kennedy (having a confidant as his administrator), here’s a look at how these celebrities divvied up their estates – plus the mistakes they made that you should want to avoid.

1. One of the more recent (and brutal) family fortune battles was started by billionaire Revlon Chairman Ronald Perelman. Who incurred Perelman’s wrath? Besides his ex-wife Ellen Barkin, his infirm, paralyzed and elderly ex-father-in-law, Robert Cohen. Perelman claimed Cohen had promised half his extensive fortune to Claudia Cohen, Perelman’s other ex-wife, who had passed away and whose estate Perelman controls. Despite clear instructions in Claudia’s will to preserve the relationship between their daughter and the Cohen family, Perelman launched a series of vicious lawsuits that pitted them against each other. Perelman has lost on every claim, but vows to appeal in spite of the millions in legal fees he has already spent from Claudia’s estate.

*Tip: The only reason Perelman could cause so much trouble was because Claudia Cohen named him as executor of her estate. Choose wisely when naming your executor or trustee or your family may literally pay the price!
(Photo © Getty Images/Ron Perelman with ex-wife Ellen Barkin)

2. Sen. Edward (Ted) Kennedy’s will provided the world a peek behind the curtain of the famed Kennedy family. It revealed that he created a living trust and directed that all of his assets pass into his trust. Who did he pick to administer his estate? Instead of choosing his second wife or any of his children, he chose a trusted family friend and confidant, Paul G. Kirk Jr. This is a classic second-marriage situation. Kennedy may have chosen Kirk because he wanted someone outside of the family to administrator the estate to avoid family friction.

*Tip: In second marriages or situations where there is likely to be family conflict, choosing a family friend or trusted adviser makes good sense. Proper estate planning involves taking precautions ahead of time to avoid a family fight down the road.
(Photo © AP)

3. While there was little he could do to surprise anyone given his past eccentricities, when Michael Jackson died suddenly, it caught the world off guard. The good news is that Jackson had a trust, the Michael Jackson Family Trust. A trust keeps affairs private and outside of the probate court — at least when it’s used properly. In Jackson’s case, however, he didn’t transfer his assets into the trust and as a result, his estate went through the very public court process. The general public learned about all of the fighting going on in Jackson’s estate as well as financial information, such as his mother’s monthly grooming expenses of $1,000 and his family’s monthly allowance of $86,000.

*Tip: A trust, unlike a will, can avoid the probate court process when used properly. By not transferring assets into your trust, however, you undermine some of the key benefits of a trust — privacy, avoiding probate court and decreasing the chances of a family fight.
(Photo © Getty Images)

4. Leona Helmsley chose to disinherit two of her grandchildren while leaving $12 million to Trouble, her well-named Maltese. Faced with these glaring inequities, Helmsley’s two excluded grandchildren filed a lawsuit claiming that she was not mentally fit or competent to create the will and trust. After battling it out in the probate court for seven months, the two grandchildren received $6 million plus legal fees. Poor Trouble had his inheritance reduced to a paltry $2 million. Hopefully, this would be enough for a secured home, well-paid guardian, grooming and a lifetime supply of dog bones.

*Tip: Family conflicts are not unusual when someone passes away, whether the estate is modest or grand. Good estate planning is the best prevention, but if you find yourself in the middle of a dispute, consider a settlement before the fight reaches absurd costs.
(Photo © AP)

5. Unfortunately, the estate of Princess Diana was not handled with the same grace, dignity and class that she exuded in life. Diana left a “letter of wishes” asking her executors to “divide, at [their] discretion,” her personal property and give one quarter to her godchildren. Each godchild would have received property worth 100,000 pounds ($162,700). But Diana’s executors never did so. In fact, the executors convinced the court to disregard the “letter of wishes,” without even notifying the godchildren. Instead of 100,000 pounds, each godchild received only a single memento, such as an incomplete tea set, commercially available watercolor painting or, according to one godchild’s parent, a “grubby trinket.”

*Tip: Don’t undermine your will or trust by taking shortcuts. Ideally, your intent should be incorporated into your will or trust and not placed into a separate document. A separate personal property list can work, but giving the executors “discretion” to follow it means that your wishes may not be carried out.

6. Warren Burger wrote his own will consisting of a total of 176 words … for a $1.8 million estate. If you do the math, it’s $10,000 per word. The former Chief Justice of the United State Supreme Court could have used a few more words to avoid legal fees. His estate was forced to spend thousands of extra dollars in probate court because his will failed to give his co-executors the power they needed to sell real estate, pay taxes and otherwise manage the estate.

*Tip: Even if you are the former Chief Justice of the United States Supreme Court and wish to write your own will, at least have it reviewed by a legal expert. A “homemade” will is usually better than no will at all, but can have important provisions missing. By using a good estate planning attorney to prepare your will, later your family can save thousands of dollars in court costs.
(Courtesy photograph)

By Danielle B. Mayoras and Andrew W. Mayoras. Originally published by The Women On The Web at WOWOWOW.COM

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.

As confirmed by the Washington Post this week, 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.

1. 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!
2. 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.
3. 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 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.
4. 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.
5. 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.

A couple weeks ago, I wrote how Katherine Jackson had a surprising “change of heart” by dropping her challenge to the executors for Michael’s estate.  In fact, her husband Joe Jackson was shocked — his lawyer called the move “despicable”. 

Well, if this exclusive report from the United Kingdom website News of the World is accurate, we now know why Katherine did so.

According to this report (which has been picked up by MSN Entertainment along with other websites), Katherine made the deal because the executors, John Branca and John McClain, had agreed to add a trusted family member as a third executor.  And, even better, this new executor would have veto power over decisions of Branca and McClain.

So who is the trusted family member?  Taj — Tariano Adaryll Jackson, Michael’s 36-year old nephew and Tito Jackson’s son.  He is reportedly very close to Michael’s children and mother, and was Michael’s favorite nephew.  He’ll be able to give the family a voice.

This explanation makes a lot of sense.  It had been reported for months that Katherine and the two executors had been closing in on a deal where a family member would be added to the estate administration team to address Katherine’s concerns.

As a probate lawyer specializing in contested cases like this one, I applaud the fact that Katherine and the two executors were able to settle their dispute.  They had already spent so much time and money fighting in court, putting an end to the challenge only made sense.  It’s very important in cases like this one for people to put emotions aside and try to reach a resolution that makes sense for everyone.

Is it easy to do?  No, which is why working with an experienced attorney is a must.  If you find yourself in a mess like this and need the help of a good attorney, you should check out Trial & Heirs:  Famous Fortune Fights!, which teaches people their legal rights in will and trust disputes, with the help of celebrity stories like this one.  It also helps with tips on finding good attorneys.

Or you can visit the Trial & Heirs website and fill out a questionnaire, and we’ll help you (at no cost) find an attorney.

So does this mark the end of the Michael Jackson estate fight?  Maybe.  Joe Jackson reportedly isn’t ready to give up yet.  He is planning to appeal the judge’s decision not to allow him to seek removal of Branca and McClain.  So stay tuned … it may not be over yet!

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.