For the Love of Your Family
For the Love of Your Family
This week Tom Petty’s daughters escalated the battle over their late father’s estate by filing a lawsuit against Petty’s second wife that seeks $5 million in damages. In the lawsuit, Adria Petty and Annakim Violette, claim their father’s widow, Dana York Petty, mismanaged their father’s estate, depriving them of their rights to determine how Petty’s […]
Read MoreIn late February, Luke Perry, who became famous starring in the 1990s TV series Beverly Hills 90210, suffered a massive stroke at age 52. He was hospitalized under heavy sedation, and five days later, when it became clear he wouldn’t recover, his family decided to remove life support. Perry died on March 4th, 2019 surrounded […]
Read MoreYou might not be a big fan of their typical life choices, but the Kardashians recently demonstrated impressive wisdom in protecting their minor children using estate planning. During a recent episode of Keeping Up With The Kardashians, Khloé Kardashian was preparing to give birth to her first child, daughter True. Khloé was second-guessing her initial […]
Read MoreAretha Franklin, heralded as the “Queen of Soul,” died from pancreatic cancer at age 76 on August 16th at her home in Detroit. Like Prince, who died in 2016, Franklin was one of the greatest musicians of our time. Also like Prince, however, she died without a will or trust to pass on her multimillion-dollar […]
Read MoreIn the 1980s, the late actor Alan Thicke played the wise-but-hip father figure and psychiatrist Dr. Jason Seaver in the sitcom Growing Pains. Following Alan’s sudden death in December 2016, with his children and widow battling over his estate, one can only wonder what sage advice Dr. Seaver would have had for Thicke’s heirs. Alan […]
Read MoreDiscussing death can be awkward, and many people would prefer just to ignore estate planning all together. However, ignoring—or even putting off—such planning can be a huge mistake, as these celebrity stories will highlight. The next time one of your relatives tells you they don’t want to talk about estate planning, share these famous celebrities’ […]
Read MoreSelf-made millionaires are not uncommon in the dotcom era, but their fortunes pale in comparison to those of the ten richest families in America. These families weren’t overnight successes, but their fortunes have stood the test of time and are the result of strong family ties and very smart estate planning. 1.Walton ($130 billion) One […]
Read MoreWhether your estate is modest or movie star worthy, the value of a good estate plan, properly handled, cannot be underestimated. A comprehensive plan can mean the difference between an expensive and unnecessary “time spent in court headache” for your loved ones or an easy “in your lawyer’s office” transition that allows your family time […]
Read MoreA celebrity’s image and likeness can continue to produce considerable income after death. This type of intellectual property is considered part of your estate, and the IRS can tax its value. In the case of pop star Michael Jackson’s estate, that recently meant an IRS bill to the tune of $64.5 million, years after his […]
Read MoreIf you have ever met someone who repeatedly sabotaged their life or seemed to have a hard time moving things forward, despite the best of intentions, it may be that they were dealing with unprocessed grief. Most people have never been taught to deal with grief and as a result are stuck dealing with confusing […]
Read MoreEven after death, celebrities are highly publicized for their mistakes, many of which we make ourselves. This time last year, superstar musician Prince died suddenly, leaving no will, and the management of his substantial estate fraught with legal complications and added costs. It’s easy to assume that the wealthiest among us have all their ducks […]
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