Heiress to L’Oreal Fortune At War With Daughter

Estate of Denial: Billionaire L’Oreal heiress Liliane Bettencourt is ready for “nuclear war” with her daughter and has asked her lawyers to revoke a reconciliation deal the two struck last year, according to a French Sunday paper.

Francoise Bettencourt-Meyers had, in one of a series of lawsuits, tried to have her 88-year-old mother declared mentally unfit to manage France’s largest private fortune, but in December the two announced that they had resolved their differences.

However Bettencourt’s laywer, Jean-Rene Farthouat, told France’s Journal du Dimanche that relations have turned hostile again.

I saw Lilliane Bettencourt on Friday, and she is in favour of nuclear war, but we are waiting a bit before taking action,” Farthouat told the paper and later confirmed the quotes to AFP.

In a Friday letter, the multibillionaire asked her lawyer to “act firmly and without delay against the activities of (her) daughter.”

2011-10-04T09:12:35-07:00October 4th, 2011|Estate Fights, Rich & Famous|

Children of Tony Curtis Say He Was A Victim Of Undue Influence

Estate of Denial:  The Tony Curtis Estate held an auction this weekend to unload hundreds of memorabilia, articles of clothing and other property belonging to the famed actor who died last September at age 85, after years of poor health. Julien’s Auction House in Beverly Hills, California, conducted the online auction and raised more than one million dollars. The money went to the benefit of Tony’s widow and fifth wife, Jill Vandenberg Curtis, with a portion going to the couple’s charity.

So how much did his five children, including actress Jamie Lee Curtis, stand to receive from this? Absolutely nothing.

Tony Curtis redid his Will and Trust in May of last year, a few months before he died from cardiac arrest. When he did so, he cut out all of his children. His will lists all five by name — including Jamie Lee — and states that he intentionally disinherited them. No reason was given in his will.

His children were shocked by it and are not happy. And this weekend’s auction only made it worse.

2016-12-13T20:33:39-08:00September 26th, 2011|Estate Fights, Estate Planning, Rich & Famous|

Is Inherited Wealth Becoming The Norm?

Estate of Denial: The release of the latest Forbes 400 List of Americans is, once again, being billed as a triumph of self-made wealth.

Bill Gates, Warren Buffett and Larry Ellison – all self-made – topped the list, once again. And Forbes heralds that fact that “a record 70% of the Forbes listers are self-made.”

Yet their announcement obscures the fact that half of the top 10 on the Forbes list have inherited all or some of their wealth, making America’s billboard chart of opportunity look increasingly like the the lucky sperm club.

The Walton Family fortune towers over all others on the list. Christy Walton has a listed worth of $24.5 billion, Jim Walton has a listed worth of $21.1 billion, Alice Walton has a listed worth of $20.9 billion, and Robson Walton has a listed worth of $20.5 billion.

Yet if the Waltons were counted as a single family fortune – like many others on the list – they would have $87 billion, making them the richest family in America. They would easily surpass Bill Gates at the top of the list, with $59 billion. As he and Mr. Buffett give away more of their fortunes to charity, the individual Waltons could well wind up cracking the top five.

2011-09-26T09:27:43-07:00September 26th, 2011|Estate Planning, Rich & Famous|

Supreme Court Ruling In Anna Nicole Smith Case Causes Major Confusion

Estate of Denial:  The U.S. Supreme Court’s recent decision in Stern v. Marshall, 131 S. Ct. 2594 (2011), has a narrow holding, but potentially enormous implications for bankruptcy courts and litigation in the federal courts. The authority not just of bankruptcy judges but also of federal magistrate judges is now uncertain.

The case involved a dispute between Anna Nicole Smith and Pierce Marshall over inheritance from the very large estate of J. Howard Marshall. To make a long story short, Smith, the widow of Howard Marshall, filed for bankruptcy in the Central District of California. Pierce Marshall, Howard Marshall’s son, filed a proof of claim, primarily alleging that Smith had defamed him. Smith then filed a counterclaim asserting that Pierce Marshall tortuously interfered with her ability to recover from Howard Marshall’s estate. The bankruptcy court ruled in favor of Smith on her counterclaim and awarded her $425 million, which ultimately was reduced to $88 million.

Subsequent to the bankruptcy court’s decision, the Texas probate court ruled in favor of Pierce Marshall. This question, therefore, was one of preclusion. Did the bankruptcy court have the legal authority to issue a final judgment on the state law counterclaim, in which case there was preclusion of the Texas probate court’s decision?

2011-09-01T08:37:15-07:00September 1st, 2011|Estate Fights, Rich & Famous|

Importance of Estate Planning Highlighted By Death of Real Housewives’ Husband

On Wall Street: Russell Armstrong was the 47-year old husband of “Real Housewives of Beverly Hills” cast member Taylor Armstrong. Tragically, Russell committed suicide on August 15th about one month after Taylor had filed for divorce. Russell was reportedly distraught over how the Bravo TV Show was going to portray him in this upcoming season. His unexpected suicide took his whole family by
surprise.

The already sad situation turned even uglier a few days ago when attorneys for the family members began to argue, publicly, about his funeral. Russell's attorney told numerous media outlets that Taylor had not told Russell's parents or sister about the burial arrangements. In fact, he blasted Taylor and her attorney saying:

“I am deeply disgusted that Taylor would use her family law attorney to create cover, by lying to me over a period of days, on her behalf in writing that she would share the funeral location and time with my client's mother, father, sister and other family members. Instead, no one has contacted them and
it is apparent now that Taylor is using this death to further injure the Armstrongs. As if filing for divorce was not enough, this act of cutting out his mom, dad and sister is, frankly, despicable.”

Taylor's attorney, of course, refuted these reports. Taylor originally said she wanted to bury Russell in a cemetery in Los Angeles, but the family insisted he be returned to them in Texas.

2017-10-07T11:14:44-07:00August 23rd, 2011|Estate Fights, Estate Planning, Rich & Famous|

Another Bad Day For Anna Nicole Smith’s Estate

Estate of Denial: Rarely these days does anything positive come out of Washington D.C., but yesterday yielded a piece of good news.

Estate of Denial® has written many times about the effort to extract assets from the estate of J. Howard Marshall II, an effort started by Anna Nicole Smith in the mid-90s and continuing since then due to her estate’s ongoing legal action.  In June, after the case’s second trip to the Supreme Court, the justices upheld a ruling that gave Smith’s estate no part of the Marshall assets.

2011-08-17T09:21:08-07:00August 17th, 2011|Estate Fights, Rich & Famous|

Michael Jackson Estate Battle Continues

Estate of Denial: Katherine Jackson’s former attorneys are continuing their legal battle against her son’s estate and in their latest filing, have asked the court to award them $350,000 for costs and fees they say were run up in the days immediately following Michael’s death in 2009.

In the court documents obtained by RadarOnline.com, the fees and costs the firm of Rosenfeld, Meyer & Susman are requesting are termed “reasonable under the circumstances,” of Katherine briefly taking control of Michael’s estate, and even include $18,000 incurred in connection with Michael’s funeral!

2011-08-15T08:49:31-07:00August 15th, 2011|Estate Fights, Rich & Famous|

Designer Alexander McQueen Left Substanial Funds To His Dogs

Estate of Denial: Some of Alexander McQueen’s relatives may have a bone to pick with him over his will — he left them as much as he left his dogs.

The late, great, far-out fashion designer bequeathed nearly $82,000 to each of his three beloved English bull terriers, Juice, Minter and Callum, “for [their] upkeep and maintenance . . . so long as [they] shall live,” according to McQueen’s hefty, $26 million will, which was made public yesterday.

It’s the same amount that McQueen — who committed suicide last year at age 40 — gave to his godson and each of his nieces and nephews.

2011-08-08T09:22:48-07:00August 8th, 2011|Estate Planning, Planning for Pets, Rich & Famous, Wills|

Judge Rules for Marvel in Suit Brought by Kirby Heirs

Estate of Denial:  A federal judge in New York has ruled in favor of comic book publisher Marvel Worldwide in a dispute over who owns the rights to such popular characters as the Fantastic Four, Spider-Man, the X-Men, Iron Man and the Incredible Hulk.

The heirs of comic book artist Jack Kirby sought to assert their rights to such iconic characters in 2009, shortly after Disney announced it would acquire Marvel for $4 billion. Kirby’s estate filed 45 notices of copyright termination, seeking to take back rights to characters created from 1958 to 1963, which they claimed were Kirby’s creations.

Marvel argued that Kirby’s work constituted “work for hire” — that it was done by a freelance artist, under the direction and control of a company, which therefore retained the rights for such creative works.

2011-08-08T09:20:53-07:00August 8th, 2011|Estate Fights, Rich & Famous|

If You’re Getting Married Get A Prenup

CNN Money:  Reality TV star Kim Kardashian isn't often held up as a model of prudent behavior. But the recent reports that she and her fiancé, NBA forward Kris Humphries, are working out a prenuptial agreement make her the celebutante face of a practical new trend.  Prenups are on the rise.  And they aren't just for the wealthy and famous these days.

A prenup is a legally binding contract that spells out how a couple's assets will be carved up if their marriage fails. Nearly three-quarters of attorneys surveyed in 2010 by the American Academy of Matrimonial Lawyers said they had seen a marked increase in prenups in recent years. A key reason: The financial crisis left people anxious to protect what they have. A glance at marriage statistics underscores the importance of planning ahead. Almost half of all first marriages end in divorce, and the divorce rate on subsequent unions is even higher.

2011-08-05T09:48:14-07:00August 2nd, 2011|Prenuptial Agreements, Rich & Famous|

Amy Winehouse Got It Right With Her Will

Although troubled during her life, Amy Winehouse got it right with her estate plan.  Unlike many other celebrities like Anna Nicole Smith or Michael Jackson, Amy Winehouse left a well thought out estate plan that appears to distribute her assets just how she wanted.

Amy Winehouse's heirs could have faced a significant battle had the singer not left such a carefully crafted estate plan.  Since the British legal system tends to favor ex-spouses, Winehouse's estimated $16.4 million fortune could have ended up in the hands of her ex-husband Blake Fielder-Civil, who is currently serving time in an English prison.  Instead, Winehouse did the smart thing by amending her will after her divorce from Fielder-Civil.  Now Winehouse's will is said to pass her considerable assets to her parents and brother.

In light of all the nasty estate battles that we hear about in the news, it's nice to hear of a celebrity who got it right.  Had Winehouse failed to amend her will to omit her ex-husband, her ex-husband would have had a claim to her entire estate.  That court battle could have gotten particularly messy since Fielder-Civil reportedly was the one who introduced Winehouse to drugs and the addiction she struggled with throughout her life.   By making the smart decision to amend her will after her divorce, Winehouse might have saved her family from a long, public and expensive court battle.

A will can accomplish a number of things.  In Winehouse's case, it ensured her deadbeat ex-husband didn't inherit her sizable estate.  But you don't have to rich or famous to benefit from making a will.  If you have minor children, you absolutely must have a will.  A will is […]

2016-12-13T20:33:45-08:00July 28th, 2011|Estate Planning, Rich & Famous, Wills|

Battle Over Rosa Parks’ Estate

The Probate Lawyer Blog:  Civil rights icon Rosa Parks passed away at the age of 92 on October 25, 2005, in Detroit, Michigan. Almost six years later, her legacy is still tied up in a lengthy court battle.  The case features allegations of abuse, cronyism and corruption by the probate judge as well as the two lawyers he appointed to oversee the estate and trust.  

It also involves who will receive all of the considerable civil rights memorabilia owned by Rosa Parks when she was alive, and even the rights to use her name and likeness.

Parks' will and trust left the majority of her assets to the Rosa and Raymond Parks Institute for Self Development, operated by Rosa Parks' longtime friend, Elaine Steele.  Parks and Steele had formed this Institute.  Steele says she was close to Parks for 45 years and that Parks looked at her as the “daughter she never had.”

2016-12-13T20:33:45-08:00July 28th, 2011|Estate Fights, Rich & Famous|

Battle Over Musician Jim Reeves’ Estate May Be Ending

Estate of Denial: It’s a Nashville saga worthy of its own country music song.

“Gentleman” Jim Reeves was a velvet-voiced country crooner famous for his tuxedos, his clean-cut good looks and lovelorn lyrics such as: “Put your sweet lips a little closer to the phone.”

He died in a fiery Brentwood plane crash in 1964 at the age of 39.

Today, the fate of potentially millions of dollars in current and future royalties from his singing career remains in question.

2011-08-05T09:51:45-07:00July 28th, 2011|Estate Fights, Rich & Famous|

More Fighting Over Farrah Fawcett’s Trust

Probate Lawyer Blog:  Ryan O'Neal is at it again.  He and Craig Nevius, a Hollywood producer who used to work closely with Farrah Fawcett, are in the midst of more legal fighting against one another.  

Initially, they both sued, each claiming the other had exploited Fawcett while she was sick from the cancer that claimed her life.  Why?  They both said the other had taken advantage of her to produce a documentary about her life and her sickness.  Those lawsuits ended when Nevius ran out of money for legal fees.

Now, he has no choice but to continue fighting.  Ryan O'Neal — Farrah's ex and father to Farrah's son — has sued Nevius again.  What's at stake this time?  It's all about the art.

Specifically, a certain, famed Andy Warhol painting of Fawcett in O'Neal's possession. O'Neal says Warhol gave it to him years ago.  Not everyone thinks he's being honest though.

2016-12-13T20:33:45-08:00July 20th, 2011|Estate Fights, Rich & Famous|

Heirs of Zsa Zsa Gabor Line Up At Deathbed

The Trust Advisor Blog:  Even though 94-year-old Zsa Zsa Gabor is not dead yet, a super-size family dispute has begun. On one side her husband, on the other, heirs from 9 marriages. Each claim an inheritance they were promised from a sea of confusing estate plans experts say went way off course.

It’s just as well that Hollywood legend Zsa Zsa Gabor probably has no idea that her ninth husband and only daughter have started bickering over her estate while she’s still alive.

2017-10-07T11:13:36-07:00July 12th, 2011|Estate Fights, Rich & Famous|

Dennis Hopper Engaged in Nasty Trust Battle

Estate of Denial: Celebrity heirs fighting over the estate is far from uncommon … the Trial & Heirs Blog never has a shortage of material to cover. But, it is unusual when an ugly court battle starts before the celebrity dies and then only continues to grow more heated as time passes. That certainly has been the case with the Dennis Hopper Estate.

The Easy Rider star filed for divorce from his fifth wife, Victoria Duffy-Hopper, in January, 2010. Victoria is about six years younger than Dennis’ oldest child, daughter Marin Hopper. The two have been feuding for some time now.

2011-07-11T08:40:23-07:00July 11th, 2011|Estate Fights, Rich & Famous|

Peter Falk Leaves Majority of His Estate to Wife

Estate of Denial:  Peter Falk set up a trust years before he was formally diagnosed with Alzheimers disease, and the bulk of his multi-million dollar estate is being left to his devoted loving wife of more than thirty three years, RadarOnline.com is exclusively reporting.

The Columbo star passed away at his home in Beverly Hills on Thursday night, and his wife was at his side when he died.

2011-06-30T10:58:39-07:00June 30th, 2011|Rich & Famous, Trusts|

Caring For Your Pets After You’re Gone

Washington Times:  You don’t have to be Leona Helmsley to want the best for your pet after you die.

Helmsley left her dog, Trouble, $12 million when she passed away in 2007. A judge cut the award to $2 million and awarded some of the money to her grandchildren, but the Maltese still lived a life of luxury until his death in December. The dog’s death was announced this month by the Helmsley trust.

Pet estate planning has grown since Helmsley’s will made headlines. Today, there are retirement homes for pets across the country, and at least 45 states allow for pet trusts. A pet trust is an agreement that specifies how an owner wants a pet to be cared for, including details on who will be responsible for the animal and how the care will be paid for.

2016-12-13T20:33:46-08:00June 28th, 2011|Estate Planning, Rich & Famous, Trusts|

Top 10 Famous Estate Disputes

Estate of Denial:

1) Swedish author Stieg Larsson’s will bequeathed all his assets to the Communist Workers League.  However as the will remained unwitnessed, all his assets reverted to his estranged father and brother leaving his long-time partner Eva Gabrielsson with nothing.   She is refusing to hand over his final unpublished manuscript, which would be the fourth instalment in the best-selling Millenium saga.

2016-12-13T20:33:46-08:00June 27th, 2011|Estate Fights, Rich & Famous|
Go to Top