Probate Wars of the Rich and Famous

Surrogate Court dockets are filled with cases involving family members fighting over the assets and intentions of a deceased parent or spouse. Probate Wars of the Rich & Famous: An Insider’s Guide to Estate Planning and Probate Litigation tracks the estate litigation cases of Anna Nicole Smith, Brooke Astor, Michael Jackson, Nina Wang, Jerry Garcia and Leona Helmsley and identifies the five universal factors that caused such disputes. Each chapter provides estate planning insights designed to help individuals plan their estates without causing litigation. If, however, probate litigation cannot be avoided, the book also provides invaluable lessons about undue influence claims, how to remove a fiduciary, demanding an estate accounting and claims seeking to set aside lifetime transfers that undermined the decedents intentions. Few - if any – estate planning books utilize colorful celebrity accounts to provide meaningful insights and actionable advice.

Acknowledgments xi About the Author xiii Introduction 1 Chapter 1 Legacy of a Lifetime 5 Legacy Lesson #1: The Estate Planning Effect 9 Legacy Lesson #2: Passing the Torch without Getting Burned 10 Legacy Lesson #3: The Holistic Approach 11 Legacy Lesson #4: Dropping the Gauntlet 12 Chapter 2 Stripping and Being Stripped 13 Legacy Lesson #5: The Elective Share and Prenuptial Agreement 27 Legacy Lesson #6: Providing Equitably Both for a Second Spouse and Children from a Prior Marriage 28 Legacy Lesson #7: Disinheriting a Family Member 30 Chapter 3 The Astor Disaster: A Legacy of Influence and Undue Influence 33 Legacy Lesson #8: Monitor the Health and the Wealth of a Loved One Who is Ill and Vulnerable 79 Legacy Lesson #9: Anatomy of a Contested Estate 88 Legacy Lesson #10: Influence or Undue Influence? 91 Legacy Lesson #11: By Gift or by Theft? 94 Legacy Lesson #12: Time in a Bottle—Good Days and Bad Days 97 Legacy Lesson #13: Protecting against Fraud 99 Chapter 4 The Benevolent Queen of Mean 105 Legacy Lesson #14: Protect the Pooch 119 Legacy Lesson #15: The Grim Reaper’s Silver Lining 124 Legacy Lesson #16: A Generation Skipped 127 Legacy Lesson #17: Buried, But Not Resting Peacefully 129 Legacy Lesson #18: The Mission Statement: A Legacy Builder or Buster 134 Chapter 5 A Sweet and Sour Legacy 139 Legacy Lesson #19: A Stitch in Time Saves Nine 148 Legacy Lesson #20: Respecting the Formalities of a Will Signing 149 Legacy Lesson #21: Clarity versus Ambiguity 150 Legacy Lesson #22: Videotaping a Will Signing 151 Chapter 6 Is This It? 153 Legacy Lesson #23: Raising Helen 168 Legacy Lesson #24: If You Want Privacy, Use a Revocable Trust 170 Legacy Lesson #25: The Business of the Business 171 Chapter 7 Lessons from the Dead 183 Legacy Lesson #26: A Legacy in the Hands of Fiduciaries 200 Legacy Lesson #27: Heirlooms Can Define a Legacy 202 Chapter 8 At the End of the Day 205 Appendix A Fact Sheet for Last Will and Testament 209 Appendix B Probate Litigation Fact Sheet 221 Bibliography 229 Index 251