New York Trusts & Estates

Privacy Continues to be Author Harper Lee's Watchword in Yorktown Heights, NY

 

A very private person, the author's estate plan is as secretive as her life.

When the author of "To Kill a Mockingbird" was found to have written another novel, "Go Set a Watchman," there was much mystery about the second book, which generated a fortune. Now the mystery surrounds the estate of Nelle Harper Lee.

While the value of her estate isn't exactly known, an old lawsuit showed that Lee earned nearly $1.7 million during a six-month period in 2009 — before she announced the release of her second book last year, sales of which were well over $40 million.

The International Business Times says in its recent article, "Did Harper Lee Have a Will? Here's What Could Happen To The 'To Kill A Mockingbird' Author's Money," that Lee never married and had no children. Her parents and siblings died years ago—and those closest to her have been accused of scamming her. So what happens now?

Lee once publicly said she had a will, but only her friends and family know for certain. She most likely didn't die without her affairs in order: her father and sister were both practicing lawyers (and her estate has been involved in several lawsuits). But given her reclusive nature, she may have created a trust rather than a will. Wills become public record when they are submitted to probate court, but trusts are continued by a successor trustee and administered accordingly. Some reports say Lee's lawyer is the trustee to her estate, but she also has a nephew.

If Lee did have a will, it cannot be submitted to probate court until five days after her death, and the statute of limitations expires after five years.

In most instances, when an individual dies, there will be an executor designated in the will who helps move the process along. But at this point, with the author, it's pretty much conjecture and speculation.

The reclusive author with the well-prepared estate plan included one directive that we do know about. According to The New York Post, Lee's estate plan specifically directs that there never be another movie made about "Mockingbird."

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The Mystery of the Missing Will: Steps to Take, Clues to Look For in Yorktown Heights, NY

 

Without the benefit of pre-death conversations, you may not know that Mom stashed her last will and testament under the floorboards of Dad's old Corvette. Stranger hiding places have been uncovered!

What steps can you take when a parent passes away without sharing the location of a will or telling you who the attorney was who drafted and executed the will? What if you can't find any copies in what seem like reasonable hiding places?

The article, "What steps to take when you lose a will," from New Jersey 101.5 says there are plenty of clues you can use to track this down.

If your mom has passed away, first be certain that a will hasn't already been probated. Contact the probate court in the county where your mother lived at the time of her death. These records are public.

Next, search your mom's papers to see where she did her banking. See if she had a safe deposit box at the bank. Also, take a look at your mother's checkbook or bank statements to find out whether she paid an estate planning attorney. Hopefully, the attorney will have the original will and trust or a signed copy of them.

Your mom may have held onto business cards or letters from a financial advisor who may know the location of a trust. Tax returns should also be reviewed to see if there's information about a trust.

Maybe your mom hid the documents. She would not be the first to do so.

You could also reach out to relatives and close friends to see if they know whether your mom ever consulted with an estate planning attorney or a financial advisor. Even if you find an unsigned copy of the will, an attorney may be able to help you get the estate probated.

Despite all of your efforts, you need to know that you may not be able to get information from the attorney or gain access to the safety deposit box or any banking information if you are not an appointed executor or trustee. Speak with an experienced estate planning attorney to discuss the process of applying to the probate court so that you may be appointed as an administrator. This is another example of how important it is to have these kinds of conversations among family members in advance.

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Feuding Sisters Withdraws Civil Lawsuit, But No Love is Lost in New City, New York

 

A probate court case is still pending, but a lawsuit brought by three sisters against a fourth has been voluntarily withdrawn. It is more likely a strategic move than an indication of any rapprochement.

This dispute between sisters for the assets of Ralph Phillips, a wealthy and generous Ohio industrialist and philanthropist, includes a difference of opinion as to whether or not a fourth sister, the executor of their father's will, failed to carry out their father's wishes, resulting in their inheritances being considerably less than they had anticipated. The lone embattled sister claims that her father made that crucial decision, not her.

The probate court case, initially brought in 2009, is still pending, says The Mansfield (OH) News-Journal in "Court dispute over Ralph Phillips' estate withdrawn."

Ralph Phillips was president and CEO of Phillips Manufacturing and Tower. He died in a motorcycle accident at age 65 in September 2009. His four daughters were named in his will. Angela R. Phillips Deskins, one of the daughters who was also active in his business operations, was named executor.

Four appraisers with different specialties including real estate and guns were tasked with conducting a valuation of Phillips' assets in the estate. They set the worth of the non-business-related holdings at $4.74 million in a 2010 inventory. The assets included farm equipment, properties in Knox and Huron counties and South Dakota, numerous vehicles, bank deposits, and roughly $720,000 owed to Phillips on a note from Shelby Land Company (Shelby Country Club).

The three daughters filed a civil lawsuit in 2012, claiming Deskins interfered with the estate causing them to be deprived of trust inheritances they had expected. They alleged that their sister, the executor, failed to carry out their father's wishes prior to his death to recapitalize his business assets.

The three daughters sought an order from the probate court for equal distribution of the trust portion of Phillips' holdings. These assets included stock valued at more than $16 million in various companies, according to one court document. The three sought $7 million in compensatory damages, plus punitive damages.

Deskins stated in court pleadings that she held officer positions within her father's companies and complied with all duties. In addition, she noted that, during his lifetime, her father rejected an estate planning proposal which her sisters claim would have affected their inheritances by recapitalizing the company so each daughter would receive a one-quarter share.

Court papers on behalf of Deskins make it very clear that Ralph Phillips was in complete control of his companies and how he wanted his estate to be handled. He did not wish to recapitalize his business assets and that was his decision and his rightful choice.

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Not Showing Up for Court Appearances is Never a Good Idea in Yorktown Heights, NY

When a long-absent daughter failed to complete a court ordered DNA test and then failed to respond to numerous court requests for an appearance, it did not help her cause. We wonder what her attorney is thinking.

A recently settled case in Texas awarded the entire $3 million estate of a doctor to his ex-wife. Mrs. Denise Reichert took the oath of independent executrix of the will and estate of Dr. Oscar Reichert.

The judge who presided over the hearing dismissed the contest of will filed by Brandi Reichert, who is the doctor's oldest daughter from his first marriage. However, Brandi failed to show up in court.

The story is reported in a recent article in The (Mount Pleasant TX) Daily Tribune, "Court decides Reichert estate goes to ex-wife."

The judge's order said that Brandi failed to comply with a court order to undergo genetic testing. As a result she lacked standing to challenge the probating of the doctor's will. The judge ruled "that every effort has been made to secure the presence of Brandi Reichert. Her failure to be at this hearing is a failure to comply with the court's orders, and failure to comply with DNA testing is failure to appear."

Brandi argued that her father didn't know what he was doing when he signed his last will naming Denise as sole beneficiary in his will. He could have been under undue influence, Brandi said, and didn't know his next of kin or children, nor did he understand that Denise was his ex-wife. However, it also was revealed in her earlier testimony that she hadn't seen her father in 20 years.

According to testimony, the divorce was granted March 22, 2013, but the divorce was filed about 10:35 A.M on June 24, 2013. Interestingly, the doctor's latest will was signed the afternoon of June 24, 2013 and named Denise as the sole beneficiary, referring to her as his wife.

Denise Reichert testified that she did not know about the will being drafted, signed and filed until six months had passed. She firmly believed that the decedent had proper capacity to know what he was doing.

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Court Decision May Open the Door to Reformed Wills in Yorktown Heights, NY

The California Supreme Court decision may make it more likely that unambiguous wills can be reformed if a mistake is deemed to have been made by the deceased.

This is a great example of a failure to think outside of the box. Literally. A California man created a handwritten will that left all of his property to his wife if he were to predecease her. He also wrote that if they should both die at the same time, he wanted his property to be distributed to a number of charities that were important to them both.

What Duke did not contemplate in his will is the possibility that his spouse would pass away before he did, which is exactly what happened.

As Duke had never redrafted his will after his wife passed away, the trial and appellate courts declared that his property should go to his relatives under the laws of intestacy. However, the California Supreme Court ruled that an unambiguous will can be reformed by the court if it can be established by clear and convincing evidence that a mistake was made in expressing the testator's intent at the time the will was drafted.

The Wills, Trusts & Estates Prof Blog reported on this case in "Unambiguous Will May Be Reformed Because Of Mistake."

This means that if the charities can establish that Duke clearly meant for his property to go to them in the event his wife was not able to inherit it, then the court can effectively rewrite the will to make that clear and the charities would inherit Duke's property.

It is difficult to determine what a deceased person intended to do.

While it might seem clear that Duke intended his property to either go to his wife or to the charities, it could also be the case that he intended to rewrite his will if his wife did pass away before him.

Consequently, this is the reason courts have generally been unwilling to rewrite potentially mistaken wills. It now appears probate courts in California will need to determine what a deceased person intended when the will is silent on an issue.

If you have had changes in your life or in the lives of your loved ones, then do not delay that phone call to a qualified estate planning attorney to review and update your estate plan.

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Judge Makes Unusual Decision in Unusual Case: Sealing Probate Records in New City, NY

 

Probate records are part of the public record and can be seen by anyone. But judges do have the ability to seal probate records if they deem it necessary or appropriate. One case in Oklahoma shows how unusual it is for this to happen.

Those who wish to keep their wills, assets and lives private sometimes use estate planning to keep as much of their life out of the public eye as possible. Probate records are open to the public and most people are uncomfortable with that.

Interestingly, judges have the authority to seal probate records on a case-by-case basis if there is just cause to do so. However, that authority is rarely used. Nevertheless, in the case of Mark Costello, an Oklahoma judge has sealed his will.

So, who was Mark Costello? The Labor Commissioner in Oklahoma.

How did he die? He was slain by multiple stab wounds at an ice cream parlor on August 23.

The alleged slayer? His own son, Christian Erin Costello, who was arrested at the scene after witnesses identified him as his father’s killer.

The probate judge in the case has sealed Costello’s will. Why? To do otherwise would subject the family to unnecessary speculation and public scrutiny, affect Christian Costello’s opportunity to receive a fair trial for the murder, and affect Mark Costello’s widow’s chances of receiving a protective order against her son’s girlfriend.

The judge’s reasoning certainly leaves a lot of ground for speculation about what might be in the will that it could have such a big impact on so many things.

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Rock and Roll Never Forgets – Especially For the Hendrix Family in New City, NY

It’s hard to imagine legendary guitarist Jimi Hendrix preparing a will; only 27 when he died, he likely did not have a great deal of assets. However, his estate grew after his death, and his not having a will, combined with a lopsided will of his father, led to years of legal battles between the Hendrix siblings.

It’s ironic that when Jimi Hendrix died at the tender age of 27, only one of his legacies was his amazing artistry with the electric guitar. The second legacy was his estate, which grew to vast proportions after his death, as did his fame.

His brother Leon Hendrix and his adopted sister Janie Hendrix have been fighting with each other over that legacy. Both of them have sought to profit from it and have worked at cross-purposes. The latest battle between them was over a trademark infringement lawsuit.

This matter has been settled, as reported recently by the Seattle Times in "Latest Jimi Hendrix family feud resolved in settlement." That the siblings have been able to fight as long as they have could be the result of two distinct estate planning mistakes.

The first was that Jimi Hendrix passed away without having created a will or having done any other form of estate planning. By law his estate, including the rights to his music and image, went to his father James. It is unknown if Jimi would have wanted his father to control everything, or even anything at all.

Second, James Hendrix may have compounded the problem in his will, which left the entire estate to Janie and excluded Leon. While that will has been upheld in court and Janie legally controls Jimi Hendrix's legacy, that has not stopped Leon from attempting to profit off it as well. That is what led to the latest feud between Janie and Leon.

We may never know whether the feuding could have been avoided had either Jimi Hendrix had a will or James Hendrix had a will that more equitably divided the estate. It certainly would not have hurt the situation.

You may not be a rock star, but just the same, contact an estate planning attorney to help you avoid any family drama after you pass.

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UK Court Rules Daughter’s Disinheritance is "Unreasonable" and Reverses Mother’s Will in New City, New York

In most cases, as long as basic principles are followed, a person is entitled by law to leave whatever he or she wishes to their heirs. There are no requirements to leave assets to adult children, but a recent ruling in a London Court of Appeals may change this.

When Thomas Jackson passed away in an industrial accident, he left behind a wife and a daughter who was only two months old. He left a small estate from his earnings and compensation for his death that went to Melita Jackson, the mother of his daughter, Heather Ilott.

At the age of 17, Ilott eloped with her teenage boyfriend. Despite the fact that the relationship continued for well over 40 years and the couple had five children, Melita Jackson never forgave her daughter and spurned all attempts at reconciliation.

Many years later, Ilott was impoverished and her mother passed away still having a portion of the father's estate left. Despite her daughter's financial needs, Jackson, still upset at the elopement, left her entire estate to charity. Normally, that would be the end of the story, but Ilott decided to sue for her mother's estate.

Over a decade later the United Kingdom court system has ruled in Ilott's favor. The court ruled that Jackson acted cruelly and unreasonably in disinheriting her daughter.

Ilott was awarded a portion of the estate, most of which will go towards purchasing the house in which she lives.

The Guardian reported this story in "Daughter wins £164,000 after decade-long legal battle with will over charities."

Whether this is a new trend in resolving disinheritance disputes that might someday make its way to the United States remains to be seen. If you are considering a “disinheritance” as part of your estate plan, be sure to engage the services of an experienced estate planning attorney who practices in your state.

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"Sweetheart Wills" for Couples with No Children in Yorktown, New York

Recently, I outlined a basic estate plan for a couple with children. Now, a reader in California asks: “What about marrieds without kids?”

Married without children? What essential estate planning tasks should you focus on?

 The Wall Street Journal says, in an article titled “Estate Planning for Childless Couples,” that you have two main estate planning tasks: (i) decide what will happen to your property after you die; and (ii) specify the individual who will oversee your medical and financial affairs if you’re unable to do so.

As you may recall, if you don’t have a will or trust, the state laws will determine who is to receive your assets. Typically the laws say that it will be your spouse if you have no children, then your spouse’s relatives after he or she dies, or the state if there are no living relatives.

Without an estate plan prepared by an experienced estate planning attorney, the family of the first spouse to die would be disinherited without recourse.

Similarly, if you’d like to give something to friends or charity, you must have an estate plan. The original article advises the easiest way to do this is to create “sweetheart wills.” Each spouse would have a will leaving everything to each other and then detailing the recipients of the assets when you both die.

Sound estate planning also includes signing general powers of attorney and advance healthcare directives to allow another of your own choosing to make financial and medical decisions on your behalf if you become incapacitated. Spouses can appoint each other, but it’s wise to have “Plan B”—and appoint another younger person to serve after (or with) your spouse or in the event that your spouse passes.

People often are quite honored to be asked; nonetheless, it’s a good idea to make provision to pay them for their time. This can alleviate any resentment. One can also leave them something in his or her will, as the alternative.

Take a look at the original article and contact your estate planning attorney to make sure your estate plan is complete and up-to-date.

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Reference: Wall Street Journal (November 8, 2014) “Estate Planning for Childless Couples”

Get the 411 on Wills In Yorktown, New York

"If you make a will you can distribute the wealth as per your wish and avoid many hassles. It particularly becomes more complicated if there are immovable properties involved and there are disputes on the values of such properties," says Ashish Kehair, EVP and head - private wealth and international businesses, ICICI Securities.

Why do you need a will?

One of the big reasons to make a will is to distribute the wealth as you want and avoid many of the headaches and expenses for your heirs, especially when you have immovable properties and disputes over their value. This caution is discussing in a recent article in The Business Standard titled "Why you should make a will." If there is no will and more than one legal heir, the distribution of assets is conducted by the court under probate law. This can be time-consuming and cumbersome.

Does the will need to be in a specific format? 

Generally it doesn't, but it must be properly signed and attested for it to be effective.

A will can be written in any language, but the words should be clear and unambiguous so that there's no question about the testator's intentions. The assets in the will should be detailed, as well as the recipient. The person executing the will should sign it, and it should be witnessed by two who saw the testator sign the will. The Business Standard reminds us to avoid a conflict of interest and not have a beneficiary or heir attest a will as a witness. Your estate planning attorney can help you with this.

Does a will need to be registered?

The registration of a will isn't required, but this does provide evidence that the proper steps have been taken.

What about an executor?

The testator appoints an executor to administer the will. It can be anyone he or she is comfortable with and trusts. It can be a family member, friend, attorney, or another individual. The executor is tasked with carrying out the instructions in the will for the distribution of the property and other assets.

For more answers to questions like these, take a look at the original article and speak to an experienced estate planning attorney.

For more information about Estate Planning, Wills, Trusts, Guardianship, Probate, Trusts and Estates, Asset Protection, Probate Court, Inheritance, Estate Planning Lawyer, Power of Attorney, Tax Planning, Will Changes, Probate Attorney; click to my website http://www.parkertrustlaw.com/

 

 

 

Reference: The Business Standard (October 19, 2014)  "Why you should make a will"