We have previously written on this blog about the late New York copper heiress Huguette Clark, the daughter of politician and entrepreneur William A. Clark. Huguette Clark died in 2011, nearly 105 years old, with roughly $300 million to her name, no direct heirs, and numerous individuals who wanted a piece of the pie.
In our previous post, we spoke about disturbing new details that have emerged in the ongoing dispute over the estate of the late copper heiress Huguette Clark. At issue in the case are two separate wills and the question of whether there may have been undue influence upon the elderly woman when she decided to disinherit her relatives and increase a bequest to her caretaker.
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Disturbing details have just been revealed in the ongoing litigation over the $300 million estate of the late copper heiress Huguette Clark. As our readers know, the litigation involves two separate wills, one in which Clark left most of her wealth to 21 distant relatives she did not know and a second--signed a month later--increasing a bequest to Clark's caretaker, setting up a foundation for her art and doll collection, and disinheriting her relatives.
Some time ago, we wrote about the estate of the late copper heiress Huguette Clark, whose estate became a point of contention between the public administrator in charge of winding down the estate and her caretakers, who were accused of taking advantage of Clark in her old age. Clark’s $300 million estate is still now being disputed, because of two wills signed six years before her death in 2011.
Prior to further addressing 'Common mistakes made in IRA planning' with part two, we will be discussing current events that demonstrate for us the need for preparation for the unanticipated.
In our previous post, we began looking at some of the most common mistakes and misconceptions about estate planning. Here we continue that discussion. Two common misconceptions, which are polar opposites, are that one needs a lawyer to draft all one's estate planning documents. On the opposite end of the spectrum, there can be the assumption that one doesn't need a lawyer at all. Between these extremes, there is a middle ground.
Mistakes in estate planning are not always noticed right away, but they can quite costly. It does help to have an awareness of the types of mistakes people make regarding estate planning. Here we'll explore some of the most common mistakes and misconceptions.
Our Alpharetta readers may or may not have heard of New York socialite and philanthropist Brooke Astor. Astor is known for her family ties to old American money and her charitable donations. Astor died in 2007 at the age of 105. Since her death, her estate has been troubled by a dispute over provisions in her estate planning documents under which she left millions to New York charities.
Marilyn Monroe is one of Hollywood's most enduring and tragic stars. Even after her death, her estate had issues settling who would receive her assets and possessions. Now, Monroe's personal makeup artist's estate is taking action to sell some photographs he took of her. Though this story is without any disputes, it does shed perspective on issues surrounding estate planning for Georgia families considering this important process.