BlogRead the Latest News

 

Make It Rain

Micky Liu is described as an HBO IT exec. When he died in 2015, he left his life insurance proceeds, and 401(k) plan balance and other retirement benefits to Veronica Beckham, a stripper he had met 9 months earlier. His sister contested the $223K left to Beckham alleging that Beckham (no relation to David) had seduced Liu. A court ruled against the sister on the grounds that the only person who could contest the beneficiary designation was Liu’s prior beneficiary, an ex-girlfriend.
 
A few minor points:
 
1. The court made the correct ruling because Liu had no presumption of leaving the benefits to his sister or any other family member.
 
2. Undue influence is more difficult to prove in a non-will matter than a will contest.
 
3. As a rule of thumb, women who hang with Snoop Dogg are not usually romantically interested in IT guys.  
 
4. $223K total benefits (including presumably 1X salary in life insurance)? The term “exec” has become as watered down as the term “porn star.”
 
Photo Credit:  Instagram
License:  Fair Use/Education

One Down One to Go

 

 

Blair (aka Princess) graduated yesterday from Indiana University’s business school. She will start working in Chicago at the end of the month.

#MeToo (#SheWasFirst)

William Agee was a boy wonder corporate exec in the late 70’s and early 80’s when he helmed Bendix Corporation. Mary Cunningham was a Harvard MBA grad voted most likely to be CEO of a non-cosmetics company. She spurned job offers on Wall Street to work for Bendix as Agee’s personal assistant before being promoted to Vice President. They eventually divorced their spouses and married each other while ignoring rumors that Cunningham had “slept her way to the top.”

After Agee’s several failed business deals reportedly undertaken under Cunningham’s advice, Cunningham became known as the Yoko Ono of finance. They settled in Napa Valley where Cunningham acquired the moniker of “Tomato Lady” for growing special tomatoes.

Six weeks before he died, Agee, reportedly suffering from dementia, changed his will to leave half his assets to his children from whom he had been estranged for 35 years. He also filed for divorce from Cunningham and named his daughter as his health care power of attorney. His last communication with his wife was via Face Time from Seattle. Cunningham is challenging the will although it does not matter because most of his assets were in his trust which was unchanged before his death.

A few points:

1. A will change six weeks before death to benefit children who have been estranged for 35 years will always generate questions of competency..

2. If Agee changed his will prior to his death, he should have also changed his trust if his assets were titled in the name of the trust.

3. Yoko Ono of finance? Tomato Lady? Music fans could only wish that Yoko Ono had grown tomatoes instead of creating unlistenable music and breaking up the Beatles.

Photo Credit:  Mary Moritz for the New York Times

License:  Fair Use/Education

Back From Spring Break

Quick Caribbean cruise with Jack and 3 St. Xavier classmates including a day in Cuba. Post soon.  

Till I Get to the Bottom and See You Again

In news of no importance, a California court ruled that the body of infamous mass murderer, Charles Manson, should be given to his grandson. The claims of a man claiming to be the son of Manson via an orgy and someone who was Manson’s pen pal were denied. The question of who will inherit Manson’s estate is still to be determined.

A few points:

 1. The body was released to Manson’s closest living relative as it should have been.
 2. The competition for the body of a man who personified “evil” is odd.
 3. The battle for the body is a prelude for a battle for his estate although after 47 years in prison the estate likely consists of a blanket, toothbrush, razor, and a few dollars for working in the prison laundry.
 
Photo Credit:  California Dept. of Corrections
License:  Fair Use/Education

Contact Info

image

Address

Law Office Of Jay Brinker
1 E. Fourth Street - Suite 900
Cincinnati, OH 45202

Email

[email protected]

Phone

(513) 665-4888

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.