Celebrity gossip websites ran a story last week claiming that Whitney Houston is “broke as a joke.” They even quoted an unnamed (of course) source claiming that Whitney would be homeless if not for the generosity of friends. She called someone to ask for $100, the story goes. If true, that would be quite a fall from financial grace for the singer who signed a $100 million record deal in 2001.
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Whitney’s camp quickly denied the rumors and says they are “false and ridiculous“. Her rep points out that she just made a movie called Sparkle, with Jordin Sparks, and she didn’t work for free.
If Whitney is in need of money, she has another source she can pursue. Don’t be surprised to see Whitney Houston foreclose on her step-mother’s home soon.
Why would Whitney Houston do that? She recently claimed victory in the Federal Court of Appeals for the Third Circuit, in a sometimes-ugly lawsuit against the woman who married her father. Read more...
A few weeks into the new year, how many of your New Year’s resolutions have already fallen by the wayside? Exercise more. Eat less. Spend more quality time with family.
image from wikipedia
Well it’s not too late to tackle a very important resolution that up to two-thirds of adults in our country ignore — estate planning. That’s right, it’s the topic no one likes to think about, but everyone knows they should take care of … wills, trusts, powers of attorney, and more.
It doesn’t have to be intimidating! In fact, celebrity stories are a great way to break the ice to remind everyone of what they need to do.
So, with the help of some recent stories in the news, here are Trial & Heirs: New Years Estate Planning Resolutions for 2012. (We just gave an interview discussing some of these stories, which you can watch here).
The Estate Of Etta James
1. Plan Now and Don’t Procrastinate.
R&B legend Etta James was 72 when she passed Read more...
Danielle and Andy Mayoras, co-authors of Trial & Heirs: Famous Fortune Fights!, share their Trial & Heirs Estate Planning Resolutions for 2012 with FOX 2 News.
Trial & Heirs: Estate Planning Resolutions for 2012: MyFoxDETROIT.com
Richard Pratt / Quinn Rooney-Getty Images
Richard Pratt had a colorful life, until he died at age 74 on April 28, 2009. A former professional Australian rules football player and stage actor, he inherited his father’s small cardboard business in 1969 and grew it into one of the world’s largest privately-owned recycling and packaging companies.
Pratt peaked on Forbes’ list of the world’s billionaires at number 321 in 2005. Two years later, his fortune was valued by Forbes at $2.5 billion (in U.S. dollars). His fortune declined from there, and Pratt eventually admitted to a massive price-fixing scheme, paying a record $33 million fine. Pratt still managed to wind up as Australia’s fourth wealthiest person, leaving behind a $5.5 billion estate (in Australian dollars).
Richard Pratt estate: Mistress loses court battle
It was well known in Australian society that Pratt enjoyed the company of mistresses, one of whom gave birth to a daughter by Pratt in 1997. But it’s another mistress who caused the biggest headache for Richard Pratt’s estate. Read more...
Seventies beauty icon Farrah Fawcett died in June of 2009 at the age of 62, following a terrible battle with cancer. She did the proper estate planning, complete with a will and a trust. [You can read the trust here]. So why are there not one, but two lawsuits over one of her assets?
EMMANUEL DUNAND/AFP/Getty Images
It all comes down to a famous Andy Warhol painting of Fawcett. Warhol painted two silkscreen paintings of Fawcett and reportedly gave them both to her as presents. [You can see one of the two paintings here].
Fawcett’s trust provides that her art collection passed to the University of Texas, her alma mater. The University received one of the two Warhol paintings, but not the other. So where is it?
In the possession of Fawcett’s former on-again, off-again boyfriend, Ryan O’Neal … and he doesn’t even dispute that he has it. So the University of Texas sued O’Neal, claiming the painting belonged to Fawcett when she died and should now belong to Read more...
Click the picture below to watch Danielle & Andy’s Top Tips For The New Year!