The Probate Lawyer Blog

Are You Better Prepared Than Abraham Lincoln Was?

Less than four weeks since its release, the movie Lincoln already has earned nearly $84 million at the box office.  Chronicling Abraham Lincoln’s historic efforts to abolish slavery, the movie has garnered widespread critical and audience appeal.  

At Trial & Heirs, however, we can’t help but think of another aspect of Abraham Lincoln’s life … he is one of the most notable examples of someone dying without a will.  This got us thinking, and digging. What did happen to Lincoln’s estate after he died?

According to a series of bulletins issued from the Abraham Lincoln Association, his family was understandably overcome with grief.  By noon on the day he died, April 15, 1865, Lincoln’s oldest son, Robert, sent a telegram to Justice David Davis of the United States Supreme Court.  Davis was a close friend of Lincoln and Robert considered Davis to be a “second father,” according to a letter Robert wrote years later.  The telegram said, “Please come at once to Washington to take charge of my father’s affairs.  Answer.”

Epic Copyright Battle Between Superman Heirs and Warner Bros

What would it be like if you had to fight Superman?  You may be thinking, "Superman is the hero, so why would he fight me?"  Work with us for a minute.  After all, when the concept of "Superman" was first developed, he was a villain and not a hero. 

Imagine for a moment going mano-a-mano against the Man of Steel.  Just regular, mortal you against a brightly-garbed warrior who has super-strength, can fly, is faster than a speeding bullet, and has only one weakness.  It doesn't sound like much fun.  It would seem rather hopeless ... unless you had some Kryptonite in your back pocket.

The heirs of the two co-creators of the legendary comic book hero must feel just as hopeless at times in their fight over what they feel is "truth, justice and the American way."  They have been battling the powerful media conglomerates, Warner Bros. and DC Comics, for many years in a series of (seemingly) never-ending lawsuits.  The heirs claim entitlement to full ownership of the Superman copyrights.

Warner Bros. and DC Comics say the heirs never owned the rights and the two corporations have nothing wrong.  Their position is that even if the heirs did have valid claims at one time, the heirs agreed to let Warner and DC keep the copyrights in exchange for increased royalty payments and other compensation.

Monkey Business Surrounding Davy Jones Estate

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 his 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 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, without opposition.

Learn From Celebrity Estate Planning Mistakes

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 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 behind a $6.7 million estate.

Michael Jackson's Siblings Promise New Fight Over His Estate

Michael Jackson's estate faced a tumultuous beginning three years ago after he unexpectedly died.  First his mother, Katherine, and then his father, Joe, filed challenges against the executors of his Estate, John Branca and John McClain.   Katherine backed off her attack and Joe's case was thrown out of court.  

Since then, the Estate has been relatively peaceful, at least on the surface.  Branca and McClain have led the Estate from a debt-ridden start to enormous profits.  They began around $500 million in the red when the King of Pop died.  Three years later, the Estate reported $475 million in profits.

Of course, Branca and McClain have enjoyed a huge financial windfall from this as well.  They have a special arrangement, blessed by the probate judge who oversees the estate, allowing them to earn 10% from most deals they cut for the Estate.  Branca and McClain are now facing a new attack over their handling of the Estate.

Several of Michael's brothers and sisters -- including Janet, Randy, Tito and Jermaine -- signed a letter that they sent to Branca and McClain accusing the pair of fraud, forgery, exploitation and abuse.  The letter was published on a celebrity gossip website recently.

Did Artist Thomas Kinkade Change His Will While Drunk?

It’s estimated that one in twenty American homes have a Thomas Kinkade painting hanging on the walls.  The self-named “Painter of Light” turned his gift of rendering landscapes and other words of art into a tremendous commercial endeavor.  In fact, his numerous corporate holdings reportedly topped $100 million in annual sales some years, primarily due to mass reproduction of his works.  

But the Painter of Light was not without his demons, primarily alcoholism and a failed marriage.  He died suddenly at age 54 caused by “acute intoxication” from  alcohol and Valium, on April 6, 2012.  His wife, Nanette, had filed for divorce two years before, and the couple was legally separated.  Kinkade died while living with his girlfriend of 18 months, Amy Pinto-Walsh.

The girlfriend and estranged wife began fighting almost immediately after Kinkade passed.  Pinto-Walsh was kept from the funeral and slapped with a lawsuit for breach of a confidentiality agreement.  The family wanted her to remain quiet and not share any personal details with the media.

Pinto-Walsh did not rest on her laurels.  She went to probate court to enforce two handwritten wills (called “holographic” wills) that she says Kinkade wrote for her benefit in late 2011.

These two handwritten wills are interesting, to say the least.  The first one, dated November 11, 2011, bequeaths to Pinto-Walsh the sum of $10 million dollars “from my corporate policy” and his house and property next door “for her security.”

Gore-Tex Heiress' Adoption Of Ex-Husband Fails To Score More Stock

Anyone who likes to go hiking, biking or camping probably knows what Gore-Tex is.  The breathable, waterproof fabric made W.L. Gore and Associates into a huge success. The privately-held company hit #134 in Forbes’ most recent list of America’s largest private companies, with an estimated $3 billion in annual revenue.  

Founder Bill Gore passed away in 1986 and his widow, Genevieve Gore, died on January 20, 2005.  The couple, way back in 1972, finalized a trust to pass most of their stock in the company onto the children, and ultimately their grandchildren.  They smartly planned ahead, realizing how valuable their Gore-Tex invention could become and how much growth their stock could achieve.  So they funded the trust through a holding company, early on, to minimize estate taxes.

Wanting to treat their heirs equally, the Gores set up five equal shares, for their five children.  They created a supplemental trust so that each of the grandchildren could receive an equal amount of stock as well.