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shele-covlinon New Year’s Eve in 2009.  The estranged couple was in the midst of divorce when Shele Covlin was found dead in a bathtub.  An autopsy revealed she had been strangled.  Ms. Covlin reportedly feared for her safety and had an appointment with an attorney to change her will the next day according to court filings.  Since her death, her husband, an unemployed backgammon expert, has been blocked from receiving any of her $1.0 million estate.  She changed the beneficiaries of her $1.6 million insurance policy to her children the month before she died.

There are a litany of estate planning issues, but let’s focus on the major ones:

1.  Changing a will and other documents during a divorce proceeding is always advisable if not prohibited by agreements between the parties or the domestic relations court.

2.  Simply changing a will can allow the other spouse to inherit up to one third of the probate estate if the spouse elects to take the elective share provided by statute.  Transferring the assets to a trust would be a more effective means of disinheriting a divorcing spouse.

3.  If convicted of murder, the husband will lose all benefits to his deceased wife’s estate under NY’s Slayer Statute.

4.  Am I the only one who doubts that Shele Covlin had an appointment on New Year’s Day to change her estate plan? The day after perhaps, but not on New Year’s Day.

 

 

 

 

Grandma Murders, Grandkids Inherit Millions (Pt. 2)

Fontainebleau-Miami-Beach Ben Novack was the son of the builder of Miami’s Fountainebleu Hotel.  Both he and his 86 year old mother were murdered at the behest of his wife of 18 years, a former stripper, within 3 weeks of each other in 2009 to collect his $10 million estate.  His wife was convicted of his murder in 2012 and is now serving life in prison.  

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Khloe and Lamar (Update)

khloe-kardashian-lamar-odom-divorce-relationship-news-update-2014At the risk of turning this blog into TMZ-lite or another gossip site, Khloe Kardashian and Lamar Odom have called off their pending divorce. Lamar has recovered enough from his cocaine and Viagra induced coma that he is now in physical therapy.

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Coma and Lamar

Lamar_KhloeLamar Odom remains in a coma in Las Vegas after being found unconscious in a Nevada brothel after going on a weekend bender with cocaine and herbal viagra. His estranged wife, Khloe Kardashian, is reportedly making his medical decisions for him even though they separated two years ago and signed their divorce papers in July.  Los Angeles divorce courts have a four month backlog of divorce cases.

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The Wind Cries Stolen

hendrix 5618565e0cf0c.imageA Tucson guitar shop is being sued by the estate of Jimi Hendrix over the ownership of a guitar previously owned by Hendrix.  The shop owner claims to have bought the guitar, valued at between $750K and $1 million, from an individual who obtained it from Sheldon Reynolds, the former husband of Hendrix’s sister.  The estate claims that the shop does not have title to the guitar because the guitar was stolen by Reynolds. The estate also claims that the guitar is priceless to the Hendrix family.

Three points:

1.  Under Ohio law, a thief can obtain “voidable title” which means that he owns the property until the legitimate owner claims it.  However, once the thief transfers the property to a purchaser who is unaware that the property is stolen, the purchaser becomes the lawful owner.

2.  If this were an Ohio case, the guitar shop owner would have valid title to the guitar no matter how Sheldon Reynolds obtained it before selling it – whether through gift from his wife (doubtful) or from his 14 year old step-son giving it to him by mistake (less doubtful) or simply taking it  – because the shop obtained it from a third party who was unaware it was stolen.

3.  In spite of the family’s claim that the guitar is priceless to them, I suspect it is really worth $750K to $1 million to them.

 

 

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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.