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That Is Not Amore

johns pizza

 

Madeline Castellotti was the co-owner of famed NYC pizzeria, John’s Pizzeria.  Prior to her death in 2004, she changed her will to leave her entire interest in the restaurant to her daughter, Lisa.  She allegedly did so because her son, Peter, was going through a divorce and she did not want his estranged wife to receive any interest in the restaurant.  Lisa was supposed to transfer half of her inheritance to Peter after the divorce was finalized.  When she did not, Peter sued Lisa.  An NY appeals court recently ruled that his 3 year old lawsuit may proceed.  

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Sharia Estate Planning?

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A document purporting to be the will of terrorist Osama Bin Laden was released this week.  The one page handwritten document dates from the late 1990’s.  It was part of a cache of documents retrieved from his compound by Navy SEALs. In it, OBL gave 1% of his estate to one of his henchmen, 1% to another, and directed his family to use the rest of the estate to fund jihad.   No word on what happened to his estate at his death or whether he ever updated his will.

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A Debtor, Not a Son

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Slow times in the newsworthy estates area.  Going back a few months, Andrew Getty was the 47 year old grandson of J. Paul Getty who died of a meth overdose last year.  His father, Gordon Getty, filed a claim against his son’s estate for repayment of $14 million that he allegedly loaned him.  Gordon Getty is also seeking the return of 55 pieces of art valued at $1 million.  The younger Getty’s Hollywood Hills house was listed for sale this week at $8 million.

Several quick points:

  1.  Creditors of a decedent have to file a claim against the estate if they want to secure payment for a debt.  In Ohio, the claim must be filed within six months of the date of death.
  2. Based on the amount of the claim filed by Gordon Getty, it is obvious that he financed his son’s life.
  3. Andrew is the second Getty grandchild to die a drug related death.  An incentive trust might have helped them manage their finances.
  4. It should be no surprise that Gordon Getty is seeking money from his son’s estate.  His father charged a son interest on the ransom he paid for the release of a kidnapped grandson.  Apples do not fall far from the tree. 

 

 

 

Ella Mason Was the Reasonable One

ukf884xxWhen she died in 2003, a Maine woman left almost of all of her $200,000 estate for the care of the unwanted and abandoned cats in her hometown.  Her two page will appointed trustees to administer the funds but did not specify who should actually receive the funds.  Now, two women who run makes shift cat shelters have sued the trustees and the attorney who drafted the will.

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TML Again

j9y5m7e2Paul Daugherty once again graciously allowed me to guest write his The Morning Line blog for the Cincinnati Enquirer.  If you are a UC fan, you might enjoy it.

The Man Who Sold the World

isa90rdfThe will of David Bowie was filed in Manhattan Surrogate Court on Friday.  The will left $1 million of his reported $100 million estate to the former nanny of his son, $2 million to his long time personal assistant, 25% of his estate to his 44 year old son, 25% in trust to his 15 year old daughter, and the balance to his wife, Iman.

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Feel the Burn?

3izqaim1Last week Bernie Sanders released his tax increase plan for paying for his $1.4 trillion annual single payer health care plan. Among other hefty increases, his plan would increase the estate tax on the “wealthiest .3% of Americans who inherit more than $3.5 million” to raise an additional $21 billion annually.

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Solitaire Confinement

0mmui8h1We have already traveled this road, but it is worth revisiting.  After the death of her husband in August, a Canadian woman was locked out of her husband’s Apple account because she did not know his Apple ID.  She discovered this when her favorite card game would not function and she was unable to reinstall the game. Apple told her she needed  a court order to change the password, or she could create her own Apple ID and repurchase the game.

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Dead and Bloated

9jjupqiuScott Weiland was formerly the lead singer of Stone Temple Pilots. At the time of his death last month, he had been married to his third wife for two years.  Meanwhile, his second wife, Mary Forsberg, filed his 2007 will in LA County probate court because it named her as executor of his $2 million estate.  The will was executed several months before they divorced.

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The Will In the Front Yard

1c1ck46lAntonio and Ann Yzaguirre died when a tornado hit their Tennessee home several days before Christmas.  Oddly, several pages of their will were found 55 miles away in the front yard of Sharon Thompson.  In looking for the owner of the will, she connected the will to the Yzagurirres through a Google search.

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Happy New Year

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The Will In the Cupboard

y5c6ivhvMelissa Mathison, who died last month at the age of 65, was renowned for being the screenwriter of E.T. and The Black Stallion.  She had also been married to Harrison Ford from 1983  until 2004.  She left an estate worth $22 million, most of which is in trust.  However, her original will cannot be located.

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Merry Christmas From My Family to Yours

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Are Not All Former Spouses Bums?

scvbh2i1After divorcing her husband of 10 years in 2014, Diane Wagner agreed to pay him $186/week in spousal support. When writing the checks to him, she has used the memo section to write “alimony/adult child support,” “bum,” “loser,” and “FOAD.” Her 61 year old ex-husband recently sued her on the grounds that her notations are causing him emotional distress and caused him to suffer a heart attack.

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Jihad Estate Planning

tp0tgmnbThe six month old baby orphaned when her terrorist parents killed 14 people in San Bernardino is at the center of a custody dispute.  Saira Khan, the sister of the slain terrorist, has asked for custody of the girl. Experts are predicting that family members will not get custody of the baby because county officials will not recommend custody for family members if they are shown to have have had knowledge of the attacks.

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TML Again

cpkrqfjcPaul Daugherty has once again allowed me to guest write his The Morning Line blog for the Cincinnati Enquirer.

     

2 Broke Girls Pt. 2

sumner-redstone-02At the risk of turning this into People Magazine, a quick corollary post to the most recent post on nonagenarian Sumner Redstone and his mental capacity and estate planning.  Sydney Holland is Redstone’s 44 year old former live in girl friend who was mentioned in the Vanity Fair article about him.

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2 Broke Girls

sumner-redstoneSumner Redstone is the divorced, 92 year old billionaire who owns a controlling interest in both CBS and Viacom.  His relationships with two much younger women were profiled in Vanity Fair earlier this year.  Since the publication of the article, and likely because of it, he has severed his contacts with both women.  

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Boxing for Dollars

duboseSamuel Dubose was the Cincinnatian who was shot and killed by a University of Cincinnati police officer after being stopped off campus for not having a front license plate (a “chicken shit” stop in the words of the county prosecutor).  He is survived by his mother, father, and 11 children from various mothers.  

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Contact Me

All Posts By Jay Brinker

I am an attorney located in Cincinnati, Ohio who practices in the areas of estate planning, probate, asset protection, and small business advice. I make a difficult and bewildering process as simple as possible. Most importantly, I provide "more for less" for my clients.