Wills Feed

How The Supreme Court Gay Marriage Ruling Impacts Estate Planning

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.  DeBoer and Rowse

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.

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.

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Lessons Learned From The Tom Benson Competency Battle

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.   Tom Benson

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 legal proceeding about whether he is competent enough to make even basic decisions about his person or property. Add in the media scrutiny that follows for a man of his stature and it is not surprising that Tom Benson is very unhappy.

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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

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, out of the eleven surviving children, who have made serious accusations of wrongdoing against Toney.  These range from not letting the children see their father before he died, to providing improper medical care, and even poisoning B.B. King.

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Celebrity Legacies: Aaron Spelling Left Behind Massive Fortune & A Broken Family

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.   How-rich-is-Aaron-Spelling

This is installment #13 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 AnglesBeverly Hills 90210Dynasty, 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 County.  The home, known as the Spelling Manor, was where Aaron and his second wife, Candy, moved in the late 1980's with their children, teenage daughter Tori and son Randy.

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Celebrity Legacies: Blurred Lines Surround Marvin Gaye Estate

There's nothing like a hit song to keep heirs dancing down the road to the bank -- even when that song wasn't written, composed, or sung by the celebrity singer who died.  Marvin Gaye and Robin Thicke

The heirs of Marvin Gaye hit it big with a judgment against Robin Thicke and Pharrell Williams for copyright infringement based on their chart-topping song Blurred Lines ... but will the  victory stand up on appeal?  And what exactly does this mean for the Marvin Gaye Estate?

This is installment #13 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.

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"Was He A Hero?" And Other Questions Surround Chris Kyle's Estate - The American Sniper

As the movie, American Sniper, enjoys box office success, questions and controversies surround the estate of Chris Kyle.  One of his biggest critics is Jesse Ventura, the always-outspoken former professional wrestler and potential presidential candidate. Ventura recently explained in an interview with Howard Stern on SiriusXM that "Chris Kyle is not a hero. A hero must have an honor, and a liar has no honor." Ventura feels that Kyle had a talent for shooting straight, but was merely doing his job and does not deserve hero status.   Chris Kyle

Jesse Ventura has not been the only one to question the hero label placed on Chris Kyle. Bill Maher, Seth Rogan, Michael Moore and others have also made comments questioning the glorification of Chris Kyle in the movie, while Howard Stern, Sarah Palin, Rupert Murdoch and others have defended his hero status. Ventura, however, has been the most vocal about the topic -- perhaps because his view of Chris Kyle is personal.

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Could Feud Over Saints Owner Tom Benson Happen In Your Family?

Yes, Tom Benson has a great deal more money and power than most of us.  How much?  Try $1.9 billion, according to the annual Forbes rankings.  Indeed, there are only 350 richer people in the whole country.  The successful owner of the NFL’s New Orleans Saints and NBA’s New Orleans Pelicans, Benson built a wide-ranging empire of car dealerships, banks, various real estate holdings, and a television station.  He still actively participates in running his businesses — most of all his beloved Saints.  Tom-Benson-Saints-300x203

But for all of his wealth, prestige, and status, Tom Benson is in the midst of the same type of probate-related court battle that entangles many elderly individuals in our country.  Some of Benson’s heirs do not believe the 87-year-old is mentally competent to make his own decisions any more.  They are seeking to have him declared legally incompetent and protect him from what they claim is undue influence.

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