Tag Archives: funding a trust

Tom Clancy Estate In Family Fight Due To Poor Estate Planning

Anyone who knows who CIA analyst Jack Ryan is likely appreciates the work of late author Tom Clancy.  Called the “father of the techno-thriller,” Clancy’s career took off with his first novel, The Hunt for Red October.  His career — spawning movies such as Patriot Games and Clear and Present Danger — led to more than 100 million copies of his Tom Clancy Estatenovels in print, with 17 books hitting the top spot on the New York Times best-seller list.

Tom Clancy passed away on October 1, 2013 from heart failure, at age 66.  He was survived by his widow, Alexandra Clancy, and their young daughter, as well as four adult children from his first marriage.

Author Tom Clancy Dies At 66 (Oct 1st, 2013)

Tom Clancy Estate Value

The Tom Clancy Estate has been valued, based on probate court filings, at $82 million.  It includes a $65 million ownership stake in the Baltimore Orioles, a rare, working World War II tank, a $7 million mansion overlooking the Chesapeake Bay, and more Read more...

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Will of John Edwards’ wife revealed

Elizabeth Edwards, the estranged wife of former Vice-President Candidate John Edwards, passed away from cancer on December 7, 2010 at the age of 61.  A mere 6 days before she died, Elizabeth created a new will … one that didn’t mention her husband, even once.  220px-ElizabethEdwardsReno

Who can blame her?  After all, John first denied — then admitted to — having an affair, which produced a child, whom he first denied — but then admitted — was his.

Many media reports about this will say that John was cut out completely and Elizabeth left everything to her children.  This isn’t entirely true.

In reality, Elizabeth left everything except her personal property to a revocable living trust she created, the Anania Edwards Trust (“Anania” was her maiden name).  Because trusts, unlike wills, are private documents, we don’t know for certain who the beneficiaries of her trust are.

But, it’s safe to assume John isn’t one of them.  On the other hand, he could change that.  Spouses in North Carolina, as in most Read more...

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