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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

Float Like a Butterfly, Get Stung By a Bee

snoopThe 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.

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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.