It seemed ideal for family gatherings: a log-cabin near Yosemite. Richard Harley, in his role as trustee, bought it with funds from his parents’ family trust and put it in a separate trust—apparently without informing all of his siblings. He…
Dad’s Intent Overruled Greedy Kid
Before Arthur Blech died in 2011, the man who once handled Richard Nixon’s income taxes detailed how he wanted his $65 million estate divvied up. Yet his intentions for what his children were to inherit were found to…
How a Late Rock Star’s Trust-Fund Baby Worked Through Her ‘Inheritance Guilt’
Frances Bean Cobain says she feels guilty about the millions she’s inheriting from the father she barely remembers. “My relationship to money is different because I didn’t earn it. And so it’s almost like this big, giant loan…
Law Beats Blood Thanks to Japanese Adoption Tradition
Fusae and Emi Obata were found dead in their San Lorenzo, California, home in 2013, their bodies discovered when their mail carrier noticed the elderly sisters’ deliveries piling up. Though they died alone—they never married or had children—their probate proceeding…
‘Magic Words’ Gave Wife the Condo
When Farima Kushesh-Kaviani and Wishtasb Kushesh split, the divorce hinged on one of the spoils of their brief marriage: a condominium. Only Farima was on its mortgage application, loan, and deed, and Wishtasb signed an interspousal transfer grant deed calling…
Walter Didn’t Want the Impossible
Walter Permann had the best intentions when he singled out his most loyal employees. He worried his wife couldn’t manage his wire and cable supply firm without him, so he repeatedly told his team: The longtime employees would get distributions…
Update Life Insurance Beneficiary When Updating Spouse
When Jerome Post bought a life insurance policy in 1993, he was looking out for his wife, Angela. He made her his primary beneficiary and his sons from a prior marriage his contingent beneficiaries. In 2014, the couple divorced. Two…
Catholics Lose as Court Divines Decedent’s Intent
When Josephine Kennedy set up a trust in 1997, she wanted to help the needy, the elderly and abused children via the Catholic Church-eventually. But first, Josephine wanted her charity to start at home. She created a life estate on…
Aretha’s Estate Inaction Especially Common Among Terminally Ill
The sad announcement came moments after America lost its Queen of Soul this summer: Aretha Franklin had died of pancreatic cancer. Then more news broke: She left no will or trust, leaving the fate of her $80 million fortune up…
Parents Protect Sons From Their Siblings—From Beyond the Grave
Years after his parents died, Kevin O’Connor fought off two of his siblings with a legal security blanket they left him. The weapon: a power of appointment, which lets people wield control of their wealth, even decades after they die.…
A Widow’s Unwelcome Surprise Makes New Spousal Rights Law
When Shu Hsun Tai lied and told his wife their property was “all hers,” the dying Los Angeles man couldn’t possibly have known his treachery would lead to a milestone for spousal rights. He and Francine Yeh bought their condo…
What, Me Worry? The One Thing You Need for the Young Risk-Takers in Your Life
It’s not just older adults who need to think about putting their wishes in writing. Young people are known for their risk-taking, with motorcycle riding, reckless driving, outdoor adventures, and campus antics. So it’s never too early to think about…