awmayoras

John Goodman is the 48-year old multimillionaire from Palm Beach, Florida who recently made headlines when it was publicly revealed that he adopted his 42-year old girlfriend to help protect the family fortune.   Goodman did this in the midst of criminal and civil legal proceedings pending against him.  They arose from the February, 2010 drunk driving incident during which Goodman reportedly ran a stop sign, killed a 23-year old man, and fled the scene.  When it was recently revealed that... Read Full Story

Celebrity gossip websites ran a story last week claiming that Whitney Houston is “broke as a joke.”  They even quoted an unnamed (of course) source claiming that Whitney would be homeless if not for the generosity of friends. She called someone to ask for $100,  the story goes .  If true, that would be quite a fall from financial grace for the singer who signed a $100 million record deal in 2001.  Whitney’s camp quickly denied the rumors and says they are “ false and ridiculous “.  Her rep... Read Full Story

A few weeks into the new year, how many of your New Year’s resolutions have already fallen by the wayside?  Exercise more. Eat less.  Spend more quality time with family.   Well it’s not too late to tackle a very important resolution that up to two-thirds of adults in our country ignore — estate planning. That’s right, it’s the topic no one likes to think about, but everyone knows they should take care of … wills, trusts, powers of attorney, and more. It doesn’t have to be... Read Full Story

Richard Pratt had a colorful life, until he died at age 74 on April 28, 2009.  A former professional Australian rules football player and stage actor, he inherited his father’s small cardboard business in 1969 and grew it into one of the world’s largest privately-owned recycling and packaging companies.   Pratt peaked on Forbes’ list of the world’s billionaires at number 321 in 2005.  Two years later, his fortune was valued by Forbes at $2.5 billion (in U.S. dollars).  His fortune declined... Read Full Story

Seventies beauty icon Farrah Fawcett died in June of 2009 at the age of 62, following a terrible battle with cancer.  She did the proper estate planning, complete with a will and a trust.   [You can read the  trust  here].  So why are there not one, but two lawsuits over one of her assets?   It all comes down to a famous Andy Warhol painting of Fawcett.  Warhol painted two silkscreen paintings of Fawcett and reportedly gave them both to her as presents.  [You can see one of the two... Read Full Story

She ranks as one of the greatest civil rights icons of all time, all starting with a seemingly simple act of refusing to move from a bus seat.  Rosa Parks passed away at age 92 in 2005, living in a modest apartment in Detroit, Michigan.  Her estate was modest too. Officially valued at $372, 624 in monetary terms, but of course priceless in terms of memories and historical significance.   Her final wishes were not so modest.  She assigned all of her belongings to a charitable institute to... Read Full Story

There is no doubt about the greatness of Reverend Martin Luther King, Jr. Unfortunately, his estate planning wasn’t so great.  In fact, King made a mistake that too many people make everyday in our country … he procrastinated with his legal planning and died without a will.   In large part because of this, his legacy has been marred by fighting among his children over the handling of his estate, including claims of secrecy, mismanagement and misappropriating assets.  Years ago, MLK’s heirs... Read Full Story

While being widely loved for spreading reggae music throughout the world, Bob Marley stood for more than just music. His songs promoted freedom for poor and oppressed people throughout the world, social equality, and justice.  Marley even won the 1978 United Nations Medal of Peace. Sadly, events surrounding his estate have been anything but consistent with his musical legacy.  2011 marked the 30-year anniversary of the day Marley died of cancer, at the age of 36, on May 11, 1981.  In those... Read Full Story

Huguette Clark was a mysterious and reclusive New York multi-millionairess who passed away on May 24, 2011, a mere two weeks short of her 105th birthday.   Clark was the daughter, and only surviving child, of William Andrews Clark, who died in 1925 and was believed to be one of the richest Americans at the time.  He built his wealth through copper mining and served as a senator of Montana.  For many years, his daughter was thought to have died long ago.  Indeed, Huguette Clark hadn’t been... Read Full Story

Did you know that family gatherings during the holidays are a great time to talk about celebrities, such as Whitney Houston, and how they can help your family avoid fighting when someone dies?   This is Part 2 of  Trial & Heirs’ Top 5 Celebrity-Based Estate Planning Conversation Starters for Thanksgiving 2011: (Did you miss Part 1?   Click here .) 3. Whitney Houston   Whitney Houston has been locked in a  vicious court battle with her step-mother over a $1 million life insurance... Read Full Story