It’s the end of November. Hot topics in elder law this month include the estates of Michael Jackson and OJ. We also delved into some of the estate planning opinion pieces we found this month and offered you our opinion on the issues.
Michael Jackson’s Estate
Paris Jackson, daughter of Michael Jackson, accused co-executors, John Branca and John McClain, of mismanaging estate funds in a legal filing against her father’s estate. She claims that the executors had been showering outside lawyers with “lavish gratuities.”
Executors Branca and McClain didn’t dispute having made those payments, but instead took issue with Paris’ objections to the content of their filings and when they were submitted. Overall, Paris’s petition was partially struck down by the judge, and she was ordered to pay the estate attorney’s fees.
Most recently, Paris has filed another document with the court, alleging that the executors are holding more than $464 million in cash and “unproductive investments.”
At the time of Michael Jackson’s death, the estate owed over $500 million in debts. Through negotiated deals like selling the rights to his music to Sony, the rights to MJ the musical, and the upcoming biopic, the executors were able to pay down the debt and amas a fortune. According to the executors, Paris has received more than $65 million from her father’s estate.
OJ’s Estate
Fred Goldman may be receiving payment from the estate of OJ Simpson. OJ was acquitted of killing his son, Ron Goldman, and Simpson’s ex-wife, Nicole Brown following a very public murder trial. But, Fred Goldman won a wrongful death judgment against the former football star. The judgment was hardly paid during OJ’s lifetime. Now, three decades after the judgment in his favor, Goldman submitted his creditor claim of nearly $58 million dollars, plus ongoing interest to OJ’s Estate according to TMZ. The claim was accepted after negotiations between the estate and Goldman.
Estate Planning Opinions
It’s that time of year again, where the holidays are just around the corner and people start thinking about their estate plans. During this time of year, the news is often flooded with opinion pieces about family, gifting and estate planning. I’ve compiled a few articles that opine on estate planning dilemmas along with articles from the elder-law issues newsletter that answer the same or similar questions:
- Should you share your estate planning documents with your children? Their take. Our take.
- Should you discuss your estate plan with family ahead of making it? Their take. Our take.
- Should all kids get an equal share of the estate plan? Their take. Our take.
- Do you need to update your estate planning documents after moving? Their take. Our take.
Of course, these are all opinions and generic. You should discuss what makes sense for your plans and family with your attorney.
Other Stuff
Of course there is more that is going on in the world of elder law than we can list here. Check out this other stuff we found:
- Seniors are turning to AI Chatbots for companionship.
- Gene Hackman died about a year ago of heart disease. The auction house Bonhams sold a collection of his items last month including, memorabilia from his film career, his artwork and his sunglasses.
- A Dublin man played a final prank at his funeral– a “hello” from within the coffin.
- A New York neurologist found no frontotemporal dementia and Wendy Williams’s team said it will file to terminate the guardianship within weeks.