estate planning | Jay Brinker – Cincinnati Attorney

One Disinherited Ex-Girlfriend

Sunday, 15 May 2016 21:14

The reports of a settlement between Sumner Redstone and Manuela Herzer over her replacement as his health care proxy were premature. There actually was a brief trial over the dispute which ended with the judge dismissing Herzer’s suit to remain as his health care decision maker. The judge relied on a 7 minute deposition of Redstone in which the few intelligible sentences he uttered were “Manuela is a ****ing bitch” (twice) and “I want Manuela out of my life. Yeah.” Of course Herzer’s attorneys have vowed to appeal.

Several points:

1. This case remains about Redstone’s will which he changed at the same time as his health care power of attorney. Herzer was reportedly to receive $70 million at his death.

2. Herzer, who smartly declined an offer of marriage from Redstone, has reportedly received $75 million in gifts from him while the woman who did become his second wife only received $10 million because she signed a pre-nup.

3. While Redstone, like the recently deceased Prince, believes he will live forever, at least he has planned for his death by having a will and various trusts.

Float Like a Butterfly, Get Stung By a Bee

Sunday, 08 May 2016 22:00

The ever not so eloquent, Snoop Dogg, was asked this week if he had a will or estate plan. His NSFW response was, “I don’t give a f— when I’m dead. What am I gonna give a f— about? This goin’ on while I’m gone, you know?”

And continuing in his non-King’s English, he added, “Hopefully, I’m a butterfly, I come back and fly around and look at all these motherf—–s fighting over my money and s–t, like, ‘Look at all these dumb motherf—–s.’ Ha!”

Only four sentences, but so many points. Minimizing them:

1. Snoop can make life easier for his loved ones if he spends a bit of time deciding who should inherit the wealth accumulated from his questionable talents. He could eliminate any people claiming to be his illegitmate child by naming people in his will.

2. Prince reportedly has had 900 people come forward for DNA testing claiming to be his haIf-siblings while anyone who can establish that he is Prince’s child, will hit the jackpot and inherit all of Prince’s wealth.

3. Raise your hand sheepishly if you think Snoop has fewer illegitmate children than Prince. You would be wrong.

4. I doubt Snoop views his family as loved ones when he refers to them as “dumb motherf—–s.”

5. Maybe it is just me, but if I were reincarnated, unlike Snoop I would prefer to return as something more fierce and substantial than a short lived insect with pretty wings.

You Can’t Do That On Stage Anymore

Tuesday, 03 May 2016 21:47

Frank Zappa was an eccentric musician who died in 1993. He was survived by his wife and four children – Ahmet, Diva, Dweezil, and Moon. (ed note: he was early in on odd names for celebrity children). For the past decade, Dweezil has played his father’s music on a concert tour titled “Zappa Plays Zappa.” After Zappa’s widow (and Dweezil’s mother) died, Ahmet and Diva became trustees of the family trust and have told Dweezil that he no longer has permission to use the title “Zappa Plays Zappa” without paying $150K each time he performed a song owned by the trust. The concert tour will be titled “Dweezil Zappa Plays Frank Zappa” this summer.

Several points:

1. The selection of a trustee is vitally important. A corporate trustee would likely be more onerous than the Zappa siblings and extract as much money as possible from Dweezil for performing his father’s music.

2. There is no word on how much his mother made Dweezil pay the trust for the use of the music. Odds are that it was minimal.

3. Dweezil is correct that the new tour name “does not exactly roll off the tongue.”

4. Abel and Cain were unavailable to comment on the sibling rivalry.

5. My first rock concert was Frank Zappa at the Armory Fieldhouse in 1978. How my musical tastes have changed.

Controversy

Wednesday, 27 April 2016 20:55

As mentioned the other day, Prince did not leave a will. A Minnesota court today appointed a corporate trust company as special administrator to manage his affairs and identify his heirs (I can help – his sister, 3 surviving half siblings, and the children of his 2 deceased half-siblings will inherit under law). His estate is rumored to be worth $300 million.

Three brief points:

1. A bank trustee is perfect for this role when no family members have experience in managing such a large amount of assets.

2. I hope the trustee does not quickly resume Prince’s habit of sending take down notices to Youtube for all of his videos posted in recent days. His Super Bowl performance is worth 12 minutes of your time.

3. Did anyone truly believe that Michael Jackson, who left a will, would provide for his death in a better manner than Prince?

Purple Mess?

Sunday, 24 April 2016 20:34

Reports are surfacing that Prince did not leave a will. Of course, it is ludicrous to expect someone to present his will one business day after his death. Still, his longtime attorney and friend said that he did not prepare a will for his Purple Majesty because Prince thought he would live to be 1,999. It is unlikely another attorney prepared a will for Prince. He is survived by a sister and three half-siblings.

Three quick points:

1. Live to be 1,999? At some point the attorney/friend has to say, “Dude, the average American lives to be 78. Add fifteen years for taking care of yourself. Tell me who should inherit your sizable estate and let’s write it down.”

2. Under Ohio law, his estate would pass equally to his sister and half sister (plus any children of his dead half-siblings).

3. If the attorney for Harper Lee were appointed as Executor, we would see various outtakes released as newly discovered material and presumably titled “1998.”

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One Disinherited Ex-Girlfriend

Float Like a Butterfly, Get Stung By a Bee

You Can’t Do That On Stage Anymore

Controversy

Purple Mess?

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