Arizona Wills & Trusts Blog - Page 17 of 53 - Arizona Wills & Trusts

Inventor Sued By Pepsi Heirs To Release Formula

Estate of Denial: “Pepsico has no claim to “original, historically significant documents” about the invention of its signature soft drink, two brothers claim in Federal Court, claiming their father deserves the credit.

“By this action, the heirs seek to eliminate any doubt that original, historically significant documents belonging to their deceased father, Richard John Ritchie (‘Ritchie’), who is historically acknowledged as the person who developed the original, commercially successful formula for Pepsi-Cola on or about 1931 (the ‘Ritchie Invention’), are their personal property, as his lawful heirs, which they may freely share with historians, collectors, journalists, and television and film producers, and ultimately, members of the interested public, to tell their father’s extraordinary life story without interference or the threat of litigation from Mr. Ritchie’s former employer, Pepsi,” the complaint begins.”

On the Net2016-12-13T20:33:29-08:00May 18th, 2012|Estate Fights, Rich & Famous|

Fight Over Profits From ‘Godfather’ Sequel

Estate of Denial: “Proceeds from the sequel to Mario Puzo’s novel “The Godfather” published this week will be put in escrow while Paramount Pictures and the late novelist’s estate pursue litigation over the publishing rights.

“An interim agreement allows publication of the novel to go forward, pending resolution of this matter,” Richard Kendall, a lawyer for Los Angeles-based Paramount, said at a hearing today in Manhattan federal court.

Paramount, a unit of New York-based Viacom Inc., sued Anthony Puzo, Mario’s son and the executor of his estate, in February to prevent the publication of a third sequel to “The Godfather,” claiming that it wasn’t authorized.”

On the Net2012-05-17T15:42:55-07:00May 17th, 2012|Estate Fights, Rich & Famous|

Did A Judge And Lawyers Drain Rosa Parks’ Estate?

AZCentral: The battle over Rosa Parks' estate has gone on for years. Now, an attorney, Stephen G. Cohen, is accusing two attorneys and a judge of conspiring to drain the estate's cash. The lawyers and the judge were involved in a long running civil rights dispute related to the estate. Cohen alleges that the judge and attorneys racked up over $507,000 in unnecessary legal fees, leaving the estate $88,000 in debt.

When Rosa Parks died in 2005, she left most of her estate to the Rosa and Raymond Parks Institute which Cohen represents. Parks' relatives challenged her will after her death.

On the Net2012-05-17T13:27:05-07:00May 17th, 2012|Estate Fights, Rich & Famous|

Judge Rules Gary Coleman Did Not Have A Common Law Wife

Estate of Denial: “Shannon Price failed to prove that she and Gary Coleman had a common-law marriage after their 2009 divorce.

Fourth District Judge James R. Taylor ruled Monday that while Price had lived in the former “Diff’rent Strokes” star’s home after their marriage ended, the relationship failed to meet the state’s standard for a common-law marriage.

“There is simply [insufficient] credible evidence to conclude that they were more than occasional roommates,” Taylor wrote in his 18-page decision.”

On the Net2012-05-16T11:36:02-07:00May 16th, 2012|Estate Fights, Rich & Famous, Wills|

Including Your Four Legged Friends In Your Estate Plan

Business Insider: “Henry loves fetching his tennis ball and playing tug with his stuffed animals. About 6 years old, the Shih Tzu mix likely has many good years left.

In a way, that worries his owner.

Fern Edson adopted Henry from the PAWS Chicago animal shelter almost four years ago. Her age: 84. “I really didn't think about the age difference,” Edson said. About 18 months later, “I started thinking about it.”

Edson, whose investment banker husband died 12 years ago, has found peace of mind about Henry's future, however. She's enrolled in PAWS' Guardian Angel pet care program, in which donors who leave bequests to the no-kill shelter are assured it will care for animals that outlive their owners.

It's one of several ways that pet lovers are making provisions for their animals in the event they precede them in death. In recent years, it has become easier than ever to make estate-planning arrangements for pets.”

On the Net2012-05-15T15:52:14-07:00May 15th, 2012|Planning for Pets|

Reese Witherspoon’s Mother Tries To Annul Husband’s New Marriage

Estate of Denial: “A lawsuit filed by the mother of Reese Witherspoon against the actress’ father is drawing attention to the plight of an aging population stricken with dementia who can be preyed upon by opportunists.

In January, John Drake Witherspoon, age 70, married Tricianne Taylor, who is 60, according to a certificate of marriage filed with the suit.

Problem is, says Mary Elizabeth “Betty” Witherspoon, who is trying to annul the new marriage she learned about from a wedding announcement in a newspaper, she and John never divorced.”

On the Net2012-05-15T15:45:09-07:00May 15th, 2012|Estate Fights|

AZ Bar Suspends Attorney Critical of Probate Court

Estate of Denial: “The lawyer who spoke out in a series of ABC15 Investigations on Arizona’s probate system has been officially suspended.

Grant Goodman took on attorneys and guardians in Maricopa County. He filed lawsuits on behalf of vulnerable adults who claim the probate system was taking advantage of them.

Goodman appeared in several ABC15 investigations that uncovered abusive practices by the Sun Valley Group, a Valley guardianship company.”

Richard Keyt2012-05-15T15:41:15-07:00May 15th, 2012|Probate|

‘Explosive’ Diaries of James Brown’s Companion Subpoenaed

Estate of Denial: “On Friday night former James Brown trustee, Adele Pope of Newberry, was served with a subpoena related to the diaries of Brown’s former companion, Tommie Rae Hynie.

Pope is being asked to turn over all written communications related to the Hynie diaries, including any communications with this reporter, any “blogger, website or media outlet.”

The Observer has requested a copy of the diaries from Attorney General (AG) Alan Wilson under the Freedom of Information Act (FOIA), but the request was refused in March.

In a telephone interview in November, 2011, a longtime friend of music icon James Brown characterized the Hynie diaries as ‘explosive.'”

Richard Keyt2016-12-13T20:33:30-08:00May 15th, 2012|Estate Fights, Rich & Famous|

Using A 529 Plan With Your Estate Plan

Village Life: “Now that another school year is drawing to a close, your young children are a step closer to the day when they’ll be heading off to college. Of course, as you’re probably aware, higher education doesn’t come cheap — and the costs seem to continuously climb. You can help your children — or even your grandchildren — meet these expenses by investing in a 529 plan. And this college savings vehicle offers estate-planning benefits.”

On the Net2012-05-11T11:12:32-07:00May 11th, 2012|Estate Planning, Tax Planning|

Should You Really Treat Your Children Equally?

The Street: “The most common refrain I hear when assisting clients with estate planning is that they want to treat their children equally. It's a parent's instinctual, default position. However, it can be a flawed position to lead from. In some cases, you might need to treat your children differently when it comes to gifting and estate planning. Notice I said differently but not unequally.

So what are some examples of treating your adult children differently:

• Not naming all of your children as successor executors

•Gifting the annual gift exclusion of $13,000 outright to some children while putting it in trust for another child

•Leaving one child's inheritance outright while leaving another child's inheritance in trust.”

On the Net2016-12-13T20:33:30-08:00May 11th, 2012|Estate Planning|

California Appeals Court Rules For Same Sex Partner in Estate Case

Estate of Denial: “The California Court of Appeal established an important new legal protection for unmarried partners who are wrongfully prevented from inheriting property from each other when one partner dies. The Court of Appeal ruled in favor of the surviving same-sex partner of a deceased Southern California man in a lawsuit alleging that the deceased partner’s sister had intentionally prevented him from signing a will that would have left a share of his property to the surviving partner. The two men were not married and were not registered domestic partners, but had been in a committed relationship for nearly ten years.

The surviving partner, Brent Beckwith, filed the suit against his deceased partner’s sister, Susan Dahl, after the Los Angeles Superior Court ruled in a probate proceeding that Beckwith had no right to any share of his partner’s property because he had died without leaving a will and the couple were neither married nor registered as domestic partners. California law allows registered same-sex partners to inherit property in the same way as spouses, but provides no inheritance rights to couples who have not registered as domestic partners if one of them dies without a will.”

On the Net2016-12-13T20:33:30-08:00May 11th, 2012|Estate Fights, Estate Planning, LGBT Planning|

EMI Music May Lose Rights to ‘Pint Panther Theme’

Estate of Denial: “EMI Music could lose its grip on one of the most famous pieces of film music ever created — “The Pink Panther Theme,” written by the late Henry Mancini for the 1963 film.

Late last month, Mancini’s publishing company, Northridge Music Inc., controlled by the composer’s heirs, filed a claim at the American Arbitration Association that seeks more than $1.35 million in unpaid “net profits” on music for The Pink Panther film. The heirs are also seeking punitive damages and want EMI’s administration rights terminated due to alleged malfeasance and breach of fiduciary duty.”

On the Net2012-05-11T10:32:48-07:00May 11th, 2012|Estate Fights, Rich & Famous|

The Importance Of Getting Your Affairs In Order

The Columbus Dispatch: “My brother Ross recently died of complications from lung cancer. He was 40.

Ross left a wonderful personal legacy. He was a good father, friend and coach. He was a dedicated educator who devoted his career to working with children with emotional, developmental and physical disabilities.

But like many Americans, my brother failed to take care of his financial affairs even after receiving word that his cancer had progressed and he might not have long to live. He just wouldn’t or couldn’t follow through on advice to prepare a will. Tragically, he was a single parent who left no written instructions regarding guardianship for his 3-year-old son.

Death is hard enough to deal with, but toss in a family with unresolved issues, along with no instructions from the deceased, and you have discord at the time you most need order.

Please, I’m begging you to get your financial affairs in order, especially if you have children or you are responsible for taking care of someone.”

Richard Keyt2016-12-13T20:33:30-08:00May 10th, 2012|Estate Planning|

Homeless After Bad Estate Planning?

Huffington Post: “As an estate planning attorney, I am often asked to transfer clients homes into their children's names. The reasons given for the request include a desire to avoid probate, reduce estate taxes and to protect the home in event of long-term care claims. These are certainly worthy objectives. However, transferring your home to your children is a clumsy method of trying to accomplish your estate-planning goals. Having counseled thousands of families over the years, I can tell you that this well-intentioned transfer is more likely to do harm than good.”

On the Net2016-12-13T20:33:30-08:00May 10th, 2012|Common Problems, Do It Yourself - Fail, Estate Planning|

Estate Planning Can Get Messy With Blended Families

Record Online: “The world is a different place today than it was in 1950. Back then, the majority of families were similar in makeup: father, mother, kids, dog, house and car — the Ozzie and Harriet paradigm. Elder law estate planning in those situations often followed very predictable patterns. The surviving spouse received the assets after the first death, and the children split the remaining assets when the second parent moved on.

Family situations have changed, and “blended families,” those with children from a previous marriage, are on the rise. Plus, the law has changed, with different tax situations, legal tools, long-term care concerns and other realities forcing elder law estate plans to take more into account.”

On the Net2016-12-13T20:33:30-08:00May 10th, 2012|Estate Planning|

Pepsi Makes A Deal With Michael Jackson’s Estate

Wills, Trusts & Estates Prof Blog: “Over a quarter century ago, Michael Jackson agreed to become the voice of the Pepsi brand. Now, three years after the singer’s death, PepsiCo Inc. is acting on an agreement with Jackson’s estate to produce Pepsi cans with Jackson’s silhouette printed on the side as part of its new global marketing campaign—'Live For Now.'”

On the Net2012-05-09T11:11:03-07:00May 9th, 2012|Rich & Famous|

Struggle Over Archie Comics Empire Underscores Need For Estate Planning

Probate Lawyer Blog: “The New York Times recently featured a fascinating article called The Battle for a Comic-Book Empire That Archie Built. It detailed the ongoing legal battle over the two dueling CEO’s of Archie Comic Publications.

On one side is Jonathan Goldwater, the son of John L. Goldwater who was one of three founders of the company and the visionary behind the Archie character, created in 1941. Goldwater became a co-CEO and controller of one-half interest in the company after his half-brother, Richard Goldwater, died in 2007.

Nancy Silberkleit is the widow of the son of another founder, Louis Silberkleit. She was a schoolteacher who became co-CEO when her husband, Michael Silberkleit, died in 2008. By that time, a long-time employee and editor-in-chief, Victor Gorelick, was running the company as a temporary, stop-gap measure.

Goldwater and Silberkleit tried to work together to manage the company, agreeing in 2009 to run Archie Comics by sharing CEO duties. Silberkleit was to oversee scholastic and theatrical ventures, placing Goldwater in charge of everything else. They were supposed to consult with each other on major decisions.”

On the Net2016-12-13T20:33:30-08:00May 9th, 2012|Estate Fights, Rich & Famous|

Why You Don’t Want To Die Without A Will

Silive.com: “As the Staten Island public administrator, Gary Gotlin knows the many pitfalls of dying without a last will and testament, also known as dying intestate. It’s his job to supervise the estates of individuals who die without this very important legal document and have no close relatives or known heirs to manage their affairs.

If no heirs are tracked down after an exhaustive search, the assets go to the city of New York, he explained.

If heirs are found, but you didn’t make your wishes known legally, the state is forced to distribute your assets according to its own judgment. It basically leaves you without say over who gets what.”

On the Net2016-12-13T20:33:30-08:00May 9th, 2012|Wills|