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The 9th Circuit Court of Appeals ruled that the Estate of actress Anna Nicole Smith gets nothing from the Estate of deceased billionaire J. Howard Marshall. Anna rose to fame after she married the elderly billionaire in 1995 when they had an 84 year age difference. See the court’s opinion. Anna Nicole Smith’s [...] The Probate Lawyer Blog: “The successful comedian and star of Sanford and Son ([Redd Foxx] whose real name was John Elroy Sanford) died October 11, 1991. Apparently, the Estate has no assets. Even if it did, there’s an outstanding tax bill owed that’s a bit hefty — a whopping $3.6 million [...] Washington Times: “The American bankruptcy system exists for the “honest but unfortunate” debtor, not for those who would use bankruptcy strategically to rewrite obligations just to get a better deal than they could outside bankruptcy. . . . The U.S. Court of Appeals for the 9th Circuit is primed to rule any day [...] Los Angeles Times: “The McCourts, who own the Los Angeles Dodgers (so she says; he says he’s the owner and she’s not), jointly pocketed income totaling $108 million from 2004 through 2009, according to documents Jamie McCourt recently filed in the couple’s divorce case in Los Angeles County Superior Court. On that sum, [...] New York Daily News: “A family feud over a father’s will that has raged for more than a quarter-century – pitting two sisters against their brother in a Bronx court – may finally be over. Diana Sakow and Evelyn Breslaw were naive young women when their father, real estate investor Max Sakow, died [...] Miami Herald: “Federal authorities have launched their own Novack probe, leading the probate judge to reverse his decision giving his widow control of his millions. On Monday, Narcy Novack was celebrating a bittersweet victory after a judge paved the way for her to cash in on her slain husband’s $10 million fortune. Her [...] Wall St. Journal: “Seven months before Melvin Simon died, the ailing shopping-mall magnate altered his $1 billion will during a three-hour meeting in Asherwood, his palatial home near Indianapolis. A financial adviser had to hold and guide his hand as he signed the revised document, according to court filings. Now that scene has [...] New York Times: “FOR all of the on-screen drama that led ‘Crazy Heart; to three Academy Award nominations this week, an equally poignant tale is unfolding behind the scenes of the film in a battle over the estate of the songwriter Stephen Bruton, who co-produced the ‘Crazy Heart’ soundtrack and tutored Jeff Bridges [...] Indy Star: “In filing, daughter asks that bank take control of billionaire’s assets. A Hamilton County judge has been asked to oust Bren Simon as sole trustee of her late husband’s $1 billion-plus estate. Deborah Simon filed the request Monday to put a bank in charge of overseeing the trust controlling Melvin Simon’s massive holdings. [...] Wall St. Journal: “HONG KONG—Police on Wednesday arrested Tony Chan, the feng-shui adviser who lost his claim on the multibillion-dollar estate of heiress Nina Wang, in relation to possible forgery. Mr. Chan, a former lover of Ms. Wang, produced a will purporting to hand over her real-estate fortune to himself. A Hong Kong [...] The Canadian Press: “Two men administering Michael Jackson’s estate will receive a total of 10 per cent of the its profits minus several sizable assets, a judge agreed Wednesday. Superior Court Judge Mitchell Beckloff approved the compensation for attorney John Branca and music executive John McClain, who have been administering the singer’s estate [...] BBC News: “A court in Hong Kong has thrown out a feng shui master’s claim to the multi-billion dollar estate of Asia’s richest woman, Nina Wang. Tony Chan, who said he was Nina Wang’s lover, had argued she left him her fortune in a 2006 will. But a high court judge said the [...] Nashville Post: “Aided by new lawyers and a new strategy, the California man who claims to be love child of the late country crooner Eddy Arnold is once again asking a Nashville court for a share of Arnold’s estate. Christopher Tanner says Arnold fathered him while in a relationship with his mother in [...] Lawsuits Filed in Maricopa County Alleging Lawyers & Fiduciaries Guilty of “Equity Stipping” ElderlyThis story in the Arizona Republic is about three recently filed lawsuits in which the plaintiffs allege that lawyers and fiduciaries who had a duty to protect their elderly clients instead are alleged to have done the opposite. “The old lady who lost all her money while being ‘protected’ by Maricopa County’s [...] Courier-Journal: “Super salesman Mason C. Rudd made millions of dollars from the heavy-equipment company that bore his name and gave millions away as an equally committed philanthropist. When he died last July at age 90, after a battle with diabetes, Rudd still had a small fortune in stocks, bonds, cash and real estate, [...] The Independent: “As he fights prostate cancer, a vicious battle is already being waged for the millions the actor earned from films such as Easy Rider. Then again, says Guy Adams, this is a hellraiser who was never likely to go quietly. . . . Hopper is once more involved in a dramatic Hollywood ending. [...] msSAnews.com: “A jury here decided Friday that Wells Fargo Bank and the Baker Botts law firm breached their fiduciary duties to Kathleen Cailloux in estate-related work in 1997, and set her damages at $65.5 million. . . . The dispute centered on an estate plan crafted in the wake of the January 1997 [...] KTRK TV 13: “A real-life family feud is playing itself out in Houston’s courts. There are accusations of missing cash and gold, and at the center of it all is one sister accused of stealing from her mother, who has dementia. When Louise Staunton, 94, and her husband were making their fortune in [...] IndyStar.com: “Bren Simon [wife of deceased billionair Melvin Simon] has filed a counterclaim against the company her late husband co-founded, charging Simon Property Group with breach of agreement for refusing to give her stock or cash for her partnership holdings. She also contends that her stepson, the Indianapolis-based company’s chairman and CEO, David [...] The Probate Lawyer Blog: “William Davidson and Melvin Simon had a lot in common. Both were billionaires and both were Jewish. Simon built his fortune through the country’s biggest shopping mall company, Simon Property Group, and Forbes estimated his net worth at $1.3 billion. Davidson led Guardian Industries Corp., one [...] Arizona Republic: “An 88-year-old lady left destitute, a big chunk of her life savings sucked dry by people who were supposed to protect her, may yet get some of her money back. Brian Theut, the guardian ad litem appointed to look out for Marie Long, has asked a judge to order Phoenix attorney [...] IndyStar: “Now the company that shopping-mall tycoon Melvin Simon built is becoming legally entangled in the family feud over the late billionaire’s will. Indianapolis-based Simon Property Group, the world’s largest publicly traded retail estate company, filed a complaint Monday in Hamilton Superior Court against Simon’s widow, Bren Simon. She is seeking to convert about 6.5 [...] IndyStar.com: “Bren Simon says her late husband and billionaire shopping-mall magnate Melvin Simon changed his will in part to prevent his three children from having a say over their stepmother’s personal finances after he died. The allegation of distrust within one of Indiana’s most well-known and moneyed families comes in a 24-page court [...] Freep.com: “It’s a she said, she said on wealthy, elderly mom’s missing money. Francine Stanton Cohen says she knew there would be trouble when her 94-year-old mother entrusted her financial affairs to Cohen’s two youngest sisters in 2007. In the months that followed, Cohen said, her sisters persuaded their mother to add their [...] Orange County Register: “Late Newport Beach resident Joey Bishop’s live-in companion, who was with him for his final eight years, won a round in her lawsuit against the comedian’s former lawyers after a judge ruled that one of the attorneys cannot countersue her on allegations of financial elder abuse. Reversing the tentative decision [...] The Washington Post has a story about a New York charity suing the estate of Bill Davidson, the former owner of the NBA’s Detroit Pistons basketball team. The Areivim Philanthropic Group claims the estate owes $4.8 million of a $5 million gift Mr. Davidson promised when he help found the charity. Rocnow: “The daughter and a grand-nephew of real estate magnate Max Farash improperly diverted more than $12 million from the company he built and trusts in his name and that of his late wife, two lawsuits filed in state Supreme Court this week charge. The allegations against Lynn Farash and Matthew Aroesty were [...] The Probate Lawyer Blog: “It’s been seven months since the King of Pop died suddenly at the age of 50, and fights surrounding his estate seem like they may last for many years to come. Creditors are coming out of the woodwork, with new ones surfacing on a weekly basis. The [...] The Probate Lawyer Blog: “CNN’s Fortune Magazine recently had a fascinating article about Ron Perelman’s efforts to drag his paralyzed, infirm, and elderly ex-father-in-law through one of the most vicious estate battles we’ve seen in a while. Perelman built most of his billion-dollar fortune through a hostile takeover of Revlon. In the [...] The New York Observer: “Neil Bender, Greenwich Village’s largest private landlord, caretaker of and disputed heir to the William Gottlieb real estate empire-which includes more than 100 individual properties in what has become one of the most valuable residential neighborhoods in New York City-is a reclusive, 54-year-old Springsteen fan with a thick shock [...] |
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