Friday, February 16, 2007

Anna Nicole Smith Nightmare: An Example of an Estate Fight

The Anna Nicole Smith case that is currently raging in courtrooms in Los Angeles, Florida, and in the Bahamas are examples of why everyone who has underage children, or any assets, or wishes regarding where they are buried should be spelled out in precise detail in a current will.

Granted, the Smith case(s) are an extreme example of why this is a good idea.

I don't even want to talk about all the people coming out of the woodwork claiming to be the father of Smith's infant daughter, other than to say that it's disgusting, or Anna Nicole's occupation or life choices in becoming the type of star that she was.

But there definitely are lessons to be drawn out of this.

The Smith case has been turned on it's head due to an outdated will which names her deceased twenty-year-old son as the sole beneficiary, while not mentioning her new daughter (or husband/boyfriend/whatever) at all. It did not specify where she was to be buried. It was not filed in court, which the lawyers immediately attacked.

It does give Howard K. Stern, the legal father of Anna Nicole's infant daughter and executor of the will, power to settle some of these issues pending legal challenges.

Then there are the attorneys: Anna Nicole's mom has one, Howard K. Stern has at least one and IS one, all the prospective fathers (sickening) who are seeking custody of the infant, the prosecuting attorneys in at least two jurisdictions who are conducting criminal investigations, all in court arguing with the judge. It's mass confusion.

It's really sad to see a situation this bad played out on CourtTV and on E! and all the networks, but hopefully it causes at least one family that hasn't planned anything to get started and to maintain their plans with their changing life situations. The Anna Nicole situation is sad, and rotten to the core, but some lessons from this spectacle can be taken from it.

Estate fights can get as nasty as this one, especially when an entire legion of competing attorneys get involved, and vast fortunes are involved, or custody of wealthy heirs are in question, or there's any question of custody at all.

That's why families should spend some time getting end-of-life issues resolved before it is a problem. That's the most valuable lesson to be taken from this celebrity situation.

Ugly, ugly, ugly.

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