Huguette Clark's estate's accountant and lawyers are dismissed under accusation of failing to properly account for the estate's taxes. However, there is also concern that the heiress may have been involved in the possible fraud. See "Taxes Questioned, Accountant...
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In more celebrity news, rapper Shad Gregory Moss, a.k.a. Bow Wow (formerly known as Lil Bow Wow), has an IRS tax lien against him. While it may seem like a very large ordeal for the IRS to place a tax...
It is often commented that the tax code is progressive because the wealthy pay more in taxes than others. However, often missed is the number of tax loopholes and shelters that require complex financial planning which can only be afforded by the...
If left up to Rupert Murdoch, he would remain in control of his media empire well into his nineties. It was expected that at that time the then heir apparent to News Corp, Lachlan Murdoch, would take over control. That...
Continue reading "The Murdoch Family Dynasty and the Future of News Corp."
The Wall Street Journal Online features an article discussing John Malone's 2.2 million-acre U.S. real estate holding. Ted Turner had previously been the largest American landowner, holding just over 2 million acres of real estate. Malone, like Turner, made his...
The Trust Advisor Blog features an article about Steve Jobs' estate plan. The article says that numerous trust experts believe that Jobs' estate will likely not pay any estate tax, despite the current 35% estate tax rate. Records show that...
Len Burman of Forbes takes an intriguing look at the estate tax as a method that may help the fans of the Baltimore Orioles find a new owner some day. The analysis looks at the situation happening with the passing...
Continue reading "Can the Estate Tax Help the Baltimore Orioles Fans?"
The passing of Al Davis, the owner of the Oakland Raiders, could force the Davis family in the future to have to sell the team. The future estate tax on the appreciation in value of the Oakland Raiders may make...
Continue reading "Estate Tax Could Force NFL Team Ownership Change"
Danielle and Andy Mayoras have written "Is Britney Spears Hiding Behind her Conservatorship? for Forbes.comBritney Spears is experiencing a career resurgence and she credits her father James' guidance and help. James Spears has been Britney's conservator since 2008. A conservator...
Continue reading "Britney Spears and Her Controversial Conservatorship"
The Wealth, Trusts & Estates Prof Blog has posted the article "Trial & Heirs, Protect Your Family Fortune!" by Gerry Beyer. In his article Beyer describes an upcoming PBS special on legacy estate planning. The special, hosted by Danielle and...
According to Kimberly Palmer in Amy Winehouse's Financial Legacy, in US News, the recently deceased singer Amy Winehouse left her affairs in fairly good order: her parents and brother will inherit her sizable estate. Posted by Jessica Rebarber, Associate Editor,...
Scott Martin at "The Trust Advisor Blog" posted "Zsa Zsa's Heirs from Past Marriages Line Up at Deathbed, Get Ready for Probate Court". The 94 year old socialite has had a litany of divorce filings and a legion of heirs...
Continue reading "Zsa Zsa Gabor's Predictably Convoluted Estate"
According to The Trust Advisor Blog, Arnold Schwarzenegger's assets might take a hit to the tune of $200 million, especially if there was no prenuptial agreement between himself and Maria Shriver. The existence of one remains unclear.Posted by Jessica Rebarber,...
Continue reading "Schwarzenegger's Assets will Likely Diminish with Divorce"
Jim Rutenberg posted an article The Long Goodbye, The New York Times, May 27, 2011. NBC and actor Ryan O'neal engaged in a legal battle with Farah Fawcett's production partner, Craig Nevius, over a documentary relating to Fawcett's ordeal with late-stage cancer. They...
Karen DeMasters published an article entitled, "Celebrity Foibles Can Be Learning Tools For Advisors, Clients." The article discusses how celebrities who have failed to properly plan their estates can provide interesting insight and awareness on estate planning. The article also...
Continue reading " Karen DeMasters: Celebrity Foibles Can Be Learning Tools For Advisors, Clients"