When Thomas Kinkade died in early April at the age of 54, his legacy as a widely popular commercial artist was firmly established. The man who called himself “the painter of light” left behind an estate worth millions. However, though the estate has not yet been submitted before a probate court, it has already resulted in a legal fight. Representatives of the Kinkade estate have filed for a restraining order against Ms. Amy Pinto-Walsh, the artist's live-in girlfriend of the past 18 months. Mr. … [Read more...] about Kinkade Estate Already Embroiled in Court Fight
Estate Planning
Judge Issues Ruling in Gary Coleman Estate Dispute
After a brief trial, a Utah probate court judge has declared that the former spouse of former child star Gary Coleman was not legally married to him when he died in 2010. The court did not issue its final ruling about who will inherit Mr. Coleman's estate, though it now appears that his entire estate will go to Anna Gray, his former girlfriend and CEO of his personal corporation. Mr. Coleman's former spouse, Shannon Price, had claimed that the couple had effectively become remarried through … [Read more...] about Judge Issues Ruling in Gary Coleman Estate Dispute
Changing an Irrevocable Trust – What is Decanting?
If you have created an irrevocable trust, you probably know that the trust cannot be changed after you make it, which is why it is called irrevocable. However, there are some situations in which the terms of an irrevocable trust can be modified, one of which is known as decanting. Though the decanting process does not actually alter the terms of the irrevocable trust, it effectively allows the trust property to be managed under new terms. Let's take a look at what decanting is. The Decanting … [Read more...] about Changing an Irrevocable Trust – What is Decanting?
Common-Law Marriages And Inheritances – 3 Questions
Question 1: My partner and I have been living together for years. Does that mean we are a common-law couple? No. Living together for a certain number of years will never automatically make you a common-law married couple. Common-law marriage has a very specific definition in the law. In order to become a married couple through common-law, you must live in one of the 9 states that allows for this form of marriage, be at least 18 years old, agree with one another to become married, and hold … [Read more...] about Common-Law Marriages And Inheritances – 3 Questions
Wills And Notaries – 3 Questions
Question 1: Do I need to have my Will notarized? No. There is no state requirement that says you must have your will signed before a licensed public notary. The law requires that for your Will to be legal, you must create a document that contains your wishes, sign it, and have it signed by two capable adult witnesses. Having your Will notarized is not a valid substitute for any of these requirements, meaning that even if you do have it notarized that doesn’t make it a legal Will. Question 2: … [Read more...] about Wills And Notaries – 3 Questions
Avoiding Unintentional Disinheritances – 2 Tips
So you've gone through the trouble of creating an estate plan and are now certain that your property will pass to your family in the manner you choose. However, it's important to realize that while your estate plan may be finished, that doesn't mean it's time to forget about it. If you don't regularly review your plan you may inadvertently disinherit your family if you fail to take the proper action. Here are two tips on how to avoid these unintentional disinheritances. Tip 1: Take survivorship … [Read more...] about Avoiding Unintentional Disinheritances – 2 Tips
Celebrity Disinheritances
For many people, the idea that you would leave your children, grandchildren and other relatives out of your will is something you would never contemplate. For others, disinheritance is a much more common reality. Though there is no one answer as to why someone would choose to disinherit his or her family, there is also no law that forces you to leave property to your children and descendents. There are several well-known cases where celebrities have disinherited at least some of their family … [Read more...] about Celebrity Disinheritances
Elder Abuse Scams – 3 Red Flags
Red Flag 1: You must act now. Con artists often use a false time pressure in order to try to get you to agree to a deal that you otherwise would never consider. If someone is offering you a limited time offer, or tells you that you must act immediately or you will miss the opportunity of a lifetime, simply walk away. The false time pressure is a tool specifically designed to get you to not think and to give in to your instincts, which are usually wrong. Red Flag 2: Keep it quiet. A legitimate … [Read more...] about Elder Abuse Scams – 3 Red Flags
Amy Winehouse – 3 Questions About Her Estate, And What It Can Teach Us About Probate
Question 1: Who receives Amy Winehouse's millions? Because Ms. Winehouse did not leave behind a Will, her parents will receive her entire estate. Though the late singer left behind a brother and an ex-husband whom she apparently still had good relations with, even if she wanted these two people to receive any of her estate, it will not happen because she did not have a Will. The United Kingdom's laws state that whenever someone dies without a Will, known as dying intestate, that person's … [Read more...] about Amy Winehouse – 3 Questions About Her Estate, And What It Can Teach Us About Probate
Rosa Parks Estate Set To End Probate Battle
While Rosa Parks remains an iconic symbol of the civil rights movement of the 50s and 60s, her legacy remains in legal limbo as representatives of her estate and some of her family members continue to battle over her possessions in a Michigan probate court. However, news comes from the probate court that the estate battle may finally be coming to a close. After her death in 2005, Rosa Parks left behind an estate that had become very valuable largely because of her role in the civil rights … [Read more...] about Rosa Parks Estate Set To End Probate Battle
