Investors want to buy the basketball team for a record sum.
- Distinguished Professor of Law, Rutgers University - Newark
Celebrity probate battles deal with the same legal issues that courts handle every day for many families that are not in the news.
Even after death, managing wealth can be complicated, slow and deeply contested.
Selling a sports team is much more complicated than selling assets found in a typical estate, such as houses and cars.
These rules have a long history in the United States. They played a role in the notorious murders by the Menendez brothers and Scott Peterson.
What makes Brooke Hogan’s case unusual is that she asked to be disinherited to avoid a court battle over her celebrity father’s estate.
The drama playing out over the late actor’s assets offers valuable lessons for anyone leaving an estate – large or small – to their loved ones or a favorite charity.
Choosing the right person to manage the assets you leave behind can be just as important as selecting who will inherit your property.
Only a tiny fraction of Americans are rich enough for it to matter anyway. And many wealthy taxpayers already locked their existing assets into estate plans that they can’t change.
Even after departing this world, artists have plenty of legal tools to protect their creative vision.
Restrictions that seem reasonable during life can backfire after death.
Even the most careful trust planning is no substitute for family harmony.
Informal documents can be valid. But when that’s all a rich person leaves behind, the legal costs can get pretty steep.
Dying without a will can cause all sorts of problems for families.
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