After The Monkees frontman, Davy Jones, died of a heart attack at age 66 on February 29, 2012, his family took the very unusual step of having Davy Jones Will and related probate court documents sealed — perhaps to shield family disharmony from public view.
Wills, unlike living trusts, are public court documents and generally available for the public to read. Because of this, you can find hundreds of celebrity wills online through simple internet searches (and it sure helped us write our book, Trial & Heirs: Famous Fortune Fights!).
Davy’s family, led by his oldest daughter, Talia Jones — who has been named as the personal representative to administer the Davy Jones Estate — asked the Judge to seal the file. The request, according to this gossip website that obtained a copy of it, argued that the court should deny public access to his “planning documents and financial affairs as public opinion could have a material effect on his copyrights, royalties and ongoing goodwill.” The request was granted, Read more...
As two lawyers who have written about celebrity estates for years and hosted the national television special Trial and Heirs: Protect Your Family Fortune! on PBS affiliates, we’ve noticed that stars often make the same big estate planning mistakes as people with very modest assets. It’s just the dollar amounts that differ.
Learn from their goofs and avoid repeating them yourself. That way, you’ll protect your loved ones and be sure your inheritance wishes are carried out.
These are the top four estate planning mistakes made by celebs — errors you’ll want to avoid:
1. No will. Most of us naturally want to be sure our assets are distributed properly after we pass away, so it’s surprising that almost two-thirds of adults don’t even have simple wills. Whether you have millions of dollars or just a modest estate, estate planning is critical — starting with a will.
Unfortunately for the family of Amy Winehouse, the singer didn’t have a will when she unexpectedly passed away at age 27, leaving Read more...
Fighting over estates is never pretty. These court battles are emotional, draining, and sometimes downright nasty for everyone involved. When they happen to the estate of a beloved American icon, it’s even more tragic.
Rosa Parks Estate has been embroiled in fighting since not long after she died on October 24, 2005 at the age of 92 in Detroit, Michigan. You can read about the long history of the court battle, which we summarized in this Trial & Heirs article. In short, the Michigan Supreme Court restored the rights of the primary beneficiaries to Rosa Parks’ estate plan, years after the probate court judge ordered that their rights had been forfeited. Finally, it seemed that the fighting had reached its end.
Instead, the battle actually turned uglier than before. The attorney representing those beneficiaries who rights were recently restored — Rosa Parks’ friend Elaine Steele and the charitable institute that Rosa Parks had created, which Steele operates — went on the attack again. He took the highly-unusual step of Read more...