- Tuesday, 14 May 2019 22:35
Comedian Tim Conway died today. He started his career on “McHale’s Navy” and was best known for his role on “The Carol Burnett Show.” During the last year of his life, his daughter from his first marriage squabbled with his second wife of 35 years over his medical care. The daughter sought to be appointed conservator (i.e. guardian) of him even though Conway had executed a health care power of attorney designating his wife as his health care decision maker. The daughter’s petition was denied and eventually the wife was designated as the conservator. The daughter said she would continue to be an advocate for children seeking visitation denied by a step-parent.
Several somewhat redundant points:
1. Because Conway had executed a financial power of attorney and health care power of attorney in favor of his wife, a conservatorship was unnecessary because those documents determined his wishes.
2. It is bananas that animosity between a child and step-mother does not subside after 35 years of marriage.
3. The daughter’s declaration of victory and promise of advocacy after having no legal basis for her position and then being thwarted by the court is Trumpian.
Photo Credit: Fox News video
License: Fair Use/Education (from linked article)
- Thursday, 07 February 2019 13:29
Comic License: Nick Galifianakis/Washington Post
License: Fair Use/Education
- Friday, 04 May 2018 08:58
A few points:
1. Color me skeptical that a woman would instantly give financial control of her assets to a law enforcement officer she recently met and that the officer would accept such power for benevolent purposes when social services and the probate court could assist the woman.
2. Mrs. Achiu should have executed a power of attorney prior to her husband’s death, or shortly thereafter, designating a trusted friend or relative as her attorney in fact for both financial and medical decisions.
3. In true 2018 fashion, the deputy claims that she is being investigated because she filed a harassment claim against her now current supervisor in 2007. This does not explain why her partner is also being investigated.
Photo Credit: Unknown (AP?)
License: Fair Use/Education (from linked article)
- Saturday, 31 March 2018 22:03
Times are slow in the estate planning news area. I have been awaiting the resolution of a court hearing in Hawaii about the estate of their last living “Princess” for the past month. Alas, nothing has been reported.
Abigail Kinoiki Kekaulike Kawananakoa is considered the last living Hawaiian princess. Her great-aunt was the last Queen of Hawaii. Her great-grandfather was a pineapple magnate who left her a fortune. The 91 year old survived a stroke last summer. Her long time attorney was granted control of her $250 million estate. Her long time 64 year old girl friend married her last Fall after initially breaking up with her because she wanted more than the $700K annual allowance she was receiving.
A few points of some pithiness:
1. Planning wise, Abigail should have had a financial power of attorney designating someone to handle her finances if she were incapacitated.
2. She also should have a medical power of attorney allowing someone to assist her with her medical decisions when necessary.
3. Hawaiians revere their royalty no matter how tenuously connected to the throne from 125 years ago.
4. Some (including me) might call a woman who marries an incapacitated wealthy woman 27 years older than her an opportunist rather than a wife.
Photo Credit: AP
License: Fair Use/Eduction
- Tuesday, 28 July 2015 09:19
Now that Bobbi Kristina Brown has died after six months in a coma, let’s revisit what will happen to her estate and her mother’s estate, while also covering what she should have done differently. To recap, Bobbi Kristina was a month shy of 19 years old when Whitney died. Whitney’s 1993 will created a trust solely for the benefit of Bobbi Kristina. The trust distributed 10% of Whitney’s estate to Bobbi Kristina when she was 21 with the remainder to be distributed at the ages of 25 and 30. Bobbi Kristina received approximately $2 million on her 21st birthday. After Bobbi Kristina was found unconscious, her father (Bobby Brown) and grandmother (Cissy Houston) made her medical decisions for her somewhat contentiously.
What should have happened?
1. Whitney should have provided that her estate be distributed to her daughter at an age later than 21. I never draft trusts with such a young age for principal distribution.
2. When Bobbi Kristina received her first distribution from her trust, she should have created a will of her own which would have enabled her to leave her $2 million to her “husband”/adopted “brother”, Nick Gordon.
3. Upon turning 18, Bobbi Kristina should have executed a health care power of attorney, living will, HIPAA release, and financial power of attorney designating a specific family member to handle her affairs if she were disabled. I always recommend this for my clients whose children are heading off to college.
4. None of this was done. Of course, I doubt that basic estate planning was a priority for a family prone to alcohol and drug use while bathing.