Make sure your Loved Ones are Provided for: A Case Study
Posted By Los Angeles Estate Planning Attorney on Sep 1, 2010 4:39pm PDT
In March of 2010, the California Court of Appeals ruled once again on in re: Marshall which became infamous as the "Anna Nicole Smith" case. Sadly, now all the parties to this action are deceased. However, the facts which originated this famous case stems from a a tort claim by Vickie Lynn Marshall (Anna Nicole Smith) against E. Pierce Marshall, the son of her late husband J. Howard Marshall II. Ms. Marshall sued Pierce Marshall for interference with a substantial inter vivos gift. This gift was estimated to exceed three hundred million.
The case was the result of a dispute over the testator's intent when he drafted his estate plan. The facts are as follows: J. Howard Marshall II and Vickie Lynn Marshall married on June 27, 1994. However, J. Howard Marshall II died on August 4, 1995, at the age of ninety. At the time of his death,
J. Howard Marshall II did not devise any real or personal property to his wife in his will. Further J. Howard Marshall did not provide for his wife with income or principal of the Living Trust ever made in her favor. Had J. Howard Marshall included his wife in his estate plan, there may have been a will contest, based on his age and a capacity issue. However, his wife would have had documentation which showed he intended that she receive his real and personal property upon his death.
To ensure that your loved ones are taken care of in the event of your death, it is essential to create an estate plan. If you are unsure where to begin, consult with a Los Angeles estate planning attorney.