Trial and Heirs Top Estate Planning Tips for 2016

It’s the beginning of the year, which means that we all have well-intended New Year’s resolutions.  The diet, the exercise regimen, saving money…and finally doing our estate planning and financial planning.  The celebrity stories in Trial & Heirs:  Famous Fortune Fights! can help motivate you to actually do your estate planning this year.  Really!

Here are some of our easy-to-use estate planning tips for the new year:

1.  Get your financial affairs organized this year.  Create an “asset” list, including the account numbers, names of financial institutions, and related information for your insurance, stocks, bonds, CDs, securities, bank accounts and other investments.

2.  Store your asset list and your estate planning documents in a fireproof box, safe, or safety deposit box.  Remember to make sure that your loved ones can find and access these documents!  We have an Estate Planning Organizer to help you with this.  Just email us at contact@trialandheirs.com if you want to learn more.

3.  Review and update your estate planning documents and your financial plan Read more...

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Five Celebrity Conversation Starters For The Holidays

Danielle & Andy - croppedAcross 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. They eat, share stories, and laugh together. Of course, there may be a few family squabbles, but hopefully no mashed-potato flinging. Or will there be? Overall, the holidays are rare opportunities for family members to have face-to-face conversations. One critical conversation is talking about estate planning — what happens legally when a loved one passes away.

Trial & Heirs Top Tips For The Holidays from Trial And Heirs on Vimeo.

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?
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 Read more...

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Mark Zuckerberg And His Charitable Plan Deserve Praise, Not Scorn

As if founding Facebook  and reaching #16 on Forbes’ ranking of the world’s billionaires wasn’t impressive enough, Mark Zuckerberg – along with his wife, Dr. Priscilla Chan — is out to change the world for generations to come.  But not everyone thinks his motives are pure.  Mark Zuckerberg

Zuckerberg and Chan announced their decision to transfer 99% of their Facebook stock to a new charitable-based venture called the Chan Zuckerberg Initiative.  This will do this through a new limited liability company, with the stated purpose to “to join people across the world to advance human potential and promote equality for all children in the next generation.”  The stock will be handed over throughout their lifetimes, with no more than one billion dollars in stock gifted or sold annually for the next three years, according to a recent Facebook filing with the SEC.  Zuckerberg and Chan write that the value of the stock, presently, is about $45 billion, but that will likely grow over time considering their youth (Zuckerberg is Read more...

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Will Prenuptial Agreement Protect Kaley Cuoco From Ryan Sweeting’s Support Request?

The news broke earlier this week that the divorce proceeding between Big Bang Theory actress Kaley Cuoco and professional tennis player Ryan Sweeting just became a great deal more complicated than originally reported.

Kaley Cuoco and Ryan Sweeting

Kaley Cuoco and Ryan Sweeting

Perhaps that shouldn’t be surprising.  After all, Cuoco recently was named as Forbes’ highest paid TV actress for 2015 (in a tie with Sofia Vergara), with $28.5 million in earnings, including an impressive payday of one million dollars per episode.  Comparatively, Sweeting  — who boasts only one career tournament win and has been battling injuries — has an estimated net worth of only two million dollars, about $42 million less than Cuoco’s reported net worth.

So why should anyone be surprised that the spouse worth less is asking for financial support from the big bread winner?

Kaley Cuoco Divorcing Ryan Sweeting and More

Kaley Cuoco played a smart game from the start. Even though she and Ryan Sweeting were married after only six months of dating, Cuoco and Sweeting had a prenuptial Read more...

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Celebrity Legacies: James Dean Estate Has A Cause

James Dean was the iconic rebel without a cause.  The James Dean Estate, on the other hand, has been driven by a cause — maximizing the value of his image and likeness.  But was it taken too far when his heirs sued Twitter?  James Dean

This is installment #16 of our Estate Planning Lessons From The Stars series, which is based on the Celebrity Legacies TV show for which we provide commentary as the estate legal experts.  See other articles in the series here.

Perhaps no Hollywood legend has lasted so long, and left such an impact, as James Dean.  After dying in a tragic car crash at age 24, in 1955, Dean continued to appear among the top of highest earning deceased celebrities year after year, including being in the top ten as recently as 2012, when his estate earned about five million dollars.  Not bad for actor who only starred in three major films.

James Dean died without a will, leaving his estate and financial legacy to his father Read more...

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Celebrity Legacies: No Easy Ride For Dennis Hopper’s Estate

When is a divorce more than just a divorce?  When famed actor Dennis Hopper battled through an ugly divorce against his fifth wife, Victoria Duffy-Hopper, the battle was more about Dennis Hopper’s estate than anything else.  So perhaps no one should be surprised that the war turned uglier once Dennis died.  Dennis Hopper Estate

This is installment #15 of our Estate Planning Lessons From The Stars series, which is based on the Celebrity Legacies TV show for which we provide commentary as the estate legal experts.  See other articles in the series here.

The Easy Rider star had anything but an easy ride during the last few months of his life.  He passed away from cancer at age 73, smack-dab in the middle of his divorce war with Victoria, who was actually six years younger than Dennis Hopper’s oldest daughter.

Dennis had filed for divorce, accusing Victoria of being insane, inhuman, and volatile.  Victoria responded by claiming that Dennis was not mentally competent and that his adult children from his prior marriages Read more...

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Answering Questions About Whitney Houston’s Millions And Bobbi Kristina’s Death

After a six-month coma, the life of Whitney Houston’s daughter Bobbi Kristina Brown, has tragically ended.  Just how tragic her short life really was may not be known for some time.  But the details that have emerged are nothing short of heart-wrenching, if the allegations of a recently-filed lawsuit filed on behalf of Bobbi Kristina prove to be true.

Bobbi Kristina Brown and Nick Gordon at premiere of "Sparkle"

Bobbi Kristina Brown and Nick Gordon at premiere of “Sparkle”

According to that lawsuit, Whitney Houston’s millions were at the heart of this tragedy.  But what role did they really play in Bobbi Kristina’s death?

It was on January 31, 2015 that Bobbi Kristina was found unresponsive, unconscious, and face down in a bath tub.  That was nearly three years from the day her mother famously drowned, also in a bathtub.  Bobbi Kristina was placed into a medically-induced coma and reportedly suffered severe brain damage.

While various relatives made contradictory public statements over her condition, they cooperated enough to permit her father, Bobby Brown, and her aunt, Pat Houston, to serve Read more...

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How The Supreme Court Gay Marriage Ruling Impacts Estate Planning

gay marriage ruling impacts estate planningAs gay, lesbian, and other proponents of same-sex marriages celebrate the United States Supreme Court’s landmark ruling in Obergefell v. Hodges, millions of Americans will now be eligible for dramatically different legal rights upon the death or disability of a life partner than were previously possible.

In fact, in the field of estate planning — including planning for not only what happens when someone dies but also when someone becomes incapacitated — the landscape in the LGBT community has just changed.  Gay and lesbian couples now have a level playing field, equal to opposite-sex couples.

Supreme Court Ruling On Gay Marriage Means Financial & Estate Planning Changes

The legal implications are far-ranging, from symbolic, to monetary, to life-changing.  In fact, the Supreme Court opinion in Obergefell illustrates this by sharing the stories of three sets of plaintiffs involved in that case.

Gay Marriage Ruling Lead Plaintiff, James Obergefell

The lead plaintiff, James Obergefell, was motivated by nothing more than being legally recognized as the spouse of his partner, John Read more...

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Tom Benson Is Declared Competent, Highlighting Valuable Lessons For Families

As owner of the New Orleans Saints and Pelicans, Tom Benson, is used to being in control. He worked his way up from humble beginnings, starting as a used-car salesman, to owner of multiple car dealerships, banks, real estate, and a television station. Of course, Benson is most well-known for owning the NFL’s Saints franchise, which he purchased in 1985. Since then, he has successfully managed the Saints through the lows of Hurricane Katrina to the highs of winning the Superbowl. In 2012, Tom Benson added the NBA’s Hornets (now named the Pelicans) to his stable of businesses. Forbes estimates his net worth to be just shy of $1.9 billionTom Benson competent case

For a man with that much success and business acumen, there can be no doubt that one of the things he would enjoy least is someone suggesting he’d lost his wits. Especially when that someone is his hand-picked protégée and granddaughter, along with his daughter and grandson. And even more so when he is brought into court through a Read more...

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What’s Driving The B.B. King Estate Feud?

The late Riley B. King — better known as blues legend B.B. King — often said that the only woman in his life was his guitar, Lucille.  But that wasn’t exactly true.  King estimated that he had 15 children by 15 different women.  No wonder one of his biggest hits was called, When Love Comes To Town.

B.B. King EstateB.B. King took responsibility for his children.  According to CNN, he set up a multimillion dollar education fund for his descendants.  King wrote in his memoir that he assumed responsibility every time a woman came to him and said a child was his, without arguing about whether that was true or not.  One of his daughters, Patty King, said in a previous interview with Rolling Stone that B.B. King was a great dad who had “done well” by his children.

That same daughter is now leading the charge against B.B. King’s business manager of 39 years, LaVerne Toney.  Patty King and half-sister Karen Williams lead a panel of five King children, Read more...

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