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Luke Perry Protected His Children With Estate Planning

When Luke Perry, whose full name was Coy Luther Perry III, died on March 4, 2019, he was surrounded by family and loved ones.  Tragically, the actor — who rose to fame playing a teenage heart-throb on Beverly Hills 90210 — died from a condition that almost everyone thinks of as one that only strikes “old” people.  Fortunately, Perry’s foresight to do the proper estate planning meant that the tragedy was not made worse for his family.  Luke-perry-estate-family

Luke Perry Suffers Stroke

At the young age of 52, Perry suffered a serious stroke and was hospitalized under heavy sedation.  Five days later, his family made the decision to remove life support, after it was apparent that he would not recover, following a reported second stroke.  He was surrounded by his children, 21-year-old Jack and 18-year-old Sophie, along with his fiancé, ex-wife, mother, and siblings, among others.

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No Stranger To Legal Battles, Robin Williams Protected His Family From A Similar Fate After His Deat

Robin Williams, the iconic actor and comedian, had a razor-sharp wit that was second to none.  But he also had a dark and troubled side to his personality that contributed to two divorces and other legal drama.image from en.wikipedia.org

Perhaps learning a lesson from his own courtroom experiences, Williams took great care to prepare his will and trust to try to prevent his family from fighting after he passed away.    

So why did his heirs still battle in court?  

This is the third installment in our Fortune Fights series, based on the celebrity documentary television show, Fortune Fights, for which we serve as hosts, legal commentators and executive producers.  New episodes air on the REELZ network Thursday nights at 9 pm et/pt. 

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Casey Kasem Fortune Fight: Is A Family Member Responsible For The Radio Icon's Death?

Why are Casey Kasem’s wife and daughter accusing each other of killing the iconic American Top 40 Countdown host?  Could either of them really have been responsible for his death?

And what did Casey Kasem’s doctors have to say about the controversy? Casey_Kasem

This is the second installment in our Fortune Fights series, based on the celebrity documentary television show, Fortune Fights, for which we serve as hosts, legal commentators and executive producers.  New episodes air on the REELZ network Thursday nights at 9 pm et/pt. 

Casey Kasem passed away in 2014 at age 82, with a host of medical problems including advanced Lewy Body dementia.  His death came amidst a tragic story of a family feud that grew worse as Casey Kasem aged and now continues years after he died.

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Richard Pryor & Marlon Brando Rumor Rekindles Bitter Feud Over Pryor's Estate

Would comedian Richard Pryor be laughing or rolling over in his grave?  When Quincy Jones sat down for a recent interview with Vulture, he casually inferred that Marlon Brando slept with both Marvin Gaye and Richard Pryor.    Richard Pryor

The comment quickly snowballed when Pryor's widow, Jennifer Lee-Pryor, took to social media to confirm the Richard Pryor tryst with Marlon Brando:

She commented that Pryor would have no shame about Quincy's comments and was open in his early comedy routines about his homosexual encounters.  Jennifer felt that Pryor would have enjoyed Quincy Jones' revelation.

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Hugh Hefner Was A Role Model ... When It Came to Estate Planning

When most people think of Hugh Hefner, they picture the famous Playboy bunny logo, young and buxom blonde women by his side, and his ever-present robe and captain's hat.  But people should also think of his smart business and planning sense.  After all, Hefner started a unique business with $8,000 in 1953 and grew it into a massive global enterprise.   Hugh-hefner-playboy

How Hefner used the resulting wealth to plan for his golden years and beyond was as unique and innovative as the way he lived his life.  It certainly isn't a road-map for everyone, but it worked out well for him.

It started at least as far back as 2010, when Hefner and his second wife, Kimberley Conrad, finalized their divorce after a 12- year separation.  At this time, records from his divorce pegged his net worth at about $43 million plus the value of his Playboy Enterprises stock and real estate.  Those records also revealed his yearly income to be nearly $3.5 million, with his expenses topping out at just over $1.3 million annually.

The big open question, of course, was:  What was the Playboy stock worth?  In 2011, Hugh Hefner partnered with a private equity group to purchase the Playboy stock and take the company private, for a total package worth $207 million.  When the dust cleared, Hefner ended up with a 37% ownership interest in the new company along with an employment contract that paid him one million dollars per year, gave him editorial control over the Playboy brand, and the right to remain in the famed Playboy mansion practically rent free for the rest of his life.

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Hawaiian Princess Kawananakoa In Court Battle Over $200 Million Trust Fund

Princess Abigail Kawananakoa, known to her friends as Kekau, is true Hawaiian royalty. Now, a bitter court battle rages over the questions of whether she is mentally capable of managing her vast fortune and whether she is the victim of physical abuse and financial exploitation.   Kawananakoa

Princess Kawananakoa, age 92, is a direct descendant to the throne of the Kingdom of Hawaii.  When the United States annexed Hawaii in 1898, it ended the reign of Queen Lili’uokalani, Kawananakoa's great-grand aunt. As the closest living relative, Kawananakoa is considered to be the heir apparent who would have assumed the throne if the monarchy had been restored.

Kawananakoa was also the beneficiary of a large fortune, thanks to her great-grandfather, James Campbell. Campbell, a 19th-century sugar cane industrialist who made his fortune in Hawaii, died in 1900 with an estate worth $3 million at the time. The Campbell Estate has grown since then, topping out over $2 billion in 2007 when the Estate was converted into corporate holdings. Kawananakoa inherited $250 million, mostly in the form of stock in the James Campbell Corporation. Today, her trust is estimated to be worth $200 million.

This trust fund is at the heart of the dispute, which pits her once-trusted attorney against her long-time domestic partner.  The attorney, James Wright, petitioned the probate court to remove Kawananakoa from controlling her trust. His petition was initially granted by the probate court judge, but now is challenged in court. Wright alleged that Kawananakoa suffered an acute stroke leaving her unable to manage her health, self-care, or financial matters. Wright based his filing on the determination of two physicians.

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Gene Wilder And His Struggle With Alzheimer's Highlight Estate Planning Lesson

The death of Gene Wilder saddened Willa Wonka fans across the globe — not to mention fans of  Blazin’ Saddles, Young Frankenstein, and many others.  When his family issued a statement saying that Alzheimer’s disease claimed his life, it served as a valuable lesson.  Alzheimer’s disease is a killer.  As Wilder’s family aptly described it, it’s an “illness-pirate.”   Gene Wilder

Gene Wilder is far from the first famous actor to fall victim to Alzheimer’s.  Jimmy Stewart, Peter Falk, Charlton Heston, and Rita Hayworth are just a few others.  And of course the disease has attacked celebrities from many different industries, including Hollywood producers like Aaron Spelling, politicians like Ronald Reagan, singers like Etta James and Glen Campbell, and sports celebrities like basketball coach Pat Summitt and ball manager Sparky Anderson.

Sadly, there is no cure for Alzheimer’s disease.  It always leads to death.  While the official cause-of-death for most celebrities who suffered from the disease is usually listed as another affliction, such as a pneumonia or sepsis, Alzheimer’s disease is the real culprit for millions of Americans, causing the brain to decline until the body succumbs.  Gene Wilder’s bout with it is notable because his family attributed his death entirely to Alzheimer’s disease, whereas in most celebrity deaths it is listed only as a contributing factor, if at all.

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