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.
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...
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
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...
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?
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...
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.
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...
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”
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...
As 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...
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 billion.
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...
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 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...
What would it be like to grow up in a 123-room mansion in a swanky Los Angeles suburb, rubbing elbows with celebrities, and buying anything you want? Sounds pretty great — unless it was all taken away from you as an adult. As Tori Spelling wrote in her autobiography, it’s not easy going from having a silver spoon in your mouth to a plastic one.
This is installment #14 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.
Aaron Spelling was one of the most successful television producers ever, masterminding such hits such as Charlie’s Angles, Beverly Hills 90210, Dynasty, and The Love Boat. When Spelling died after a severe stroke in 2006, at 83 years old, he left behind a fortune worth an estimated $500 million at the time. He owned the largest house in all of Los Angeles Read more...
Kerri Kasem, the daughter of the late American Top 40 DJ, Casey Kasem, has been on a mission to make sure what happened to her and her siblings does not happen to others. When her father’s health deteri orated from Parkinson’s disease, it sparked an ugly court battle between his children and his wife, Jean Kasem, which did not end until he died. By then, Casey Kasem was suffering from serious bed sores, a urinary tract infection, and sepsis.
Kerri Kasem feels that her father’s death could have been prevented if she and her siblings had been able to see him and monitor his care better, but there were not sufficient protections in the law to help.
Until recently, not a single state in the United States offered specific protection to relatives of loved ones who were under court-ordered guardianship or conservatorship to make sure they could remain in contact with their incompetent loved one. Rather, the person named as guardian or conservator typically controlled visitation and contact, which could Read more...