Estate Plan

Jimi Hendrix Family Battles Estate Planning Snafus

Published on: August 25, 2015 | By McCulloch & Miller, PLLC

It’s hard to imagine legendary guitarist Jimi Hendrix preparing a will; only 27 when he died, he likely did not have a great deal of assets. However, his estate grew after his death, and his not having a will, combined with a lopsided will of his father, led to years of legal battles between the Hendrix siblings.

It’s ironic that when Jimi Hendrix died at the tender age of 27, only one of his legacies was his amazing artistry with the electric guitar. The second legacy was his estate, which grew to vast proportions after his death, as did his fame.

His brother Leon Hendrix and his adopted sister Janie Hendrix have been fighting with each other over that legacy. Both of them have sought to profit from it and have worked at cross-purposes. The latest battle between them was over a trademark infringement lawsuit.

Are Bitcoins Part of Your Houston Estate?

Published on: August 14, 2015 | By McCulloch & Miller, PLLC

To the digerati – the elite of the technology world – Bitcoins are as valuable as the dollar or any other state-sponsored currency. But the rules are still under development for estate planning purposes, and planning for an estate that includes Bitcoins must take this into account.

Most people know what Bitcoins are, even if they don’t use the digital currency that has become popular in the online world. The theory behind Bitcoins was that the world was ready for digital currency, an electronic peer to peer cash system that would eliminate the use of money created by countries.

Bitcoins were to be untraceable and uncontrollable by any government.

NY Psychiatrist Accused of Undue Influence Over Vulnerable Patient

Published on: August 13, 2015 | By McCulloch & Miller, PLLC

The classic story of a vulnerable wealthy elderly person being influenced by a caretaker who seeks to enrich him or herself has been updated in a dispute between a disinherited brother and psychiatrist/girlfriend of a Texas woman who is alleged to have been manipulated out of millions.

A successful and wealthy attorney with undisclosed health problems took a medical leave of absence from her law practice and traveled to New York City for treatment by a psychiatrist. Five months after treatment began, according to a statement submitted in court, things became complicated.

Several years later, the heavily-medicated attorney, Amy Blumenthal, passed away. What is alleged to have happened during those years might shock some people.

Daughter’s Disinheritance Ruled “Unreasonable;” Mother’s Will Reversed

Published on: August 11, 2015 | By McCulloch & Miller, PLLC

In most cases, as long as basic principles are followed, a person is entitled by law to leave whatever he or she wishes to their heirs. There are no requirements to leave assets to adult children, but a recent ruling in a London Court of Appeals may change this.

When Thomas Jackson passed away in an industrial accident, he left behind a wife and a daughter who was only two months old. He left a small estate from his earnings and compensation for his death that went to Melita Jackson, the mother of his daughter, Heather Ilott.

At the age of 17, Ilott eloped with her teenage boyfriend. Despite the fact that the relationship continued for well over 40 years and the couple had five children, Melita Jackson never forgave her daughter and spurned all attempts at reconciliation.

Family Feud: Sibling Rivalry Extends Beyond the Grave

Published on: August 3, 2015 | By McCulloch & Miller, PLLC

Wealthy mining magnate Harry Magnuson thought that his estate plan was all settled, and it was, while he was alive. But his wife did not follow the plan he had created, and as a result, one of the Magnuson children is now suing his siblings over an inheritance.

When Harry Magnuson and his wife Colleen had their estate plan created in 2002, the structure was relatively straight-forward: if Harry died first, everything would be left to the surviving spouse. When Colleen died, the entire estate was to be divided equally among the couple’s five children.

Harry passed away in 2009 and Colleen received everything as planned. However, when she passed away, everything was not divided equally between all of the children.

$788K Estate Could Remain Unclaimed

Published on: June 8, 2015 | By McCulloch & Miller, PLLC

Thus far, many people have attempted to establish a link – none have been successful. If no one claims the inheritance in 30 years, the money goes to the British crown.

No will or other estate planning documents could be found for Kathleen Hilda Ryan, who passed away in Greenwhich, United Kingdom in 2013 with an estate valued at $788,000. She had inherited the bulk of it from her sister, Joan.

Kathleen had no children of her own and no living siblings.

Can I Have Your Password, Please?

Published on: June 4, 2015 | By McCulloch & Miller, PLLC

“‘Do you have any important business online?’ That is now just as important of a conversation as asking somebody their health care preferences in a life-threatening situation.”

Leaving your digital accounts out of your Houston estate plan can prove to be a big, bad mistake.

Most digital accounts require passwords for access, even accounts we would not have considered as important even a decade ago.

Houston Families: Be Aware of Elder Fraud

Published on: May 29, 2015 | By McCulloch & Miller, PLLC

A Walnut Ridge woman was arrested Thursday for forging a will after someone else had died.

Another scammer made the news recently, this time involving a forged will.

KAIT reported the story in an article titled "Woman arrested for forging new will after someone died."

DIY Estate Planning May Not Work for Houston Families

Published on: February 9, 2015 | By McCulloch & Miller, PLLC

People have many options today for creating their own estate planning documents. Forms can be purchased quickly from websites and books. However, trying to create your own estate plan can actually be more expensive than hiring an attorney.

Everyone knows that attorneys can be expensive. This is just as true for estate planning attorneys as it is for other types of attorneys. An entire industry has sprung up to give consumers a cheaper option for some supposedly routine legal matters, like estate plans. Forms are available for downloading online that promise buyers they just need to read the instructions and fill in the blanks to create their own wills and trusts.

One major problem with these services is when estate planning is not done properly it is much more expensive to fix things than it would have been to hire an attorney to do things right in the first place.

Will Battles Happen in New Zealand Too

Published on: November 6, 2014 | By McCulloch & Miller, PLLC

Although the vast majority of estates aren't contested, the more money that is at stake, the more incentive a family member has to try to get some of it.

Certain family issues in the United Staes are unique to our country. However, some people tend to have the same behaviors and problems everywhere in the world.

One example is the tendency of people to fight over a wealthy estate. Whenever there is enough money involved in an estate to make it worth fighting over, people who are not happy with a distribution plan tend to fight anywhere in the world.