Wills, Trusts & Estates Prof Blog

Darko Entertainment's Hendrix Biopic Out of Luck

John Ridley recently announced his plan to direct a Jimi Hendrix biopic for Darko Entertainment, but a spokesman for the Hendrix estate claims the estate has not authorized the biopic and that no Hendrix songs will be used in the movie. Andre 3000 of OutKast had been cast to star as Hendrix in the upcoming film. This is not the first time an attempt to make a Hendrix biopic has failed. Years ago, Lee Daniels attempted to make a biopic starring Lenny Kravitz, but the project fell through after the Hendrix estate refused to grant music rights.  

Instead, the estate hopes to make its own biopic similar to the movie “Ray.” Though the producers of the Darko Entertainment picture may get permission from various publishers to use songs Hendrix didn’t write, like “All Along the Watchtower” from Bob Dylan, these publishers may not give permission because the Hendrix estate has not sanctioned the movie.

See Roger Friedman, Jimi Hendrix Estate Won’t Allow His Music in Proposed Unauthorized Bipic, Forbes, May 10, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

"The Descendants" Wins Big at Golden Globes

I recently blogged about "The Descendants", a movie in which George Clooney’s character faces tough estate planning issues. On Sunday night, the movie won the Golden Globe for best drama, and George Clooney won the Golden Globe for lead actor in a drama for his role in the film.

See Film for Trust Buffs, “The Descendants” Wins Golden Globe for Best Drama, The Trust Advisor, Jan. 16, 2012.

More on 'The Descendants'

The Legally Easy Podcasters at RocketLawyer recently recorded a podcast on the film, The Descendants. The Podcasters also included a trusts discussion with Scott Martin (editor of The Trust Advisor) in the podcast.

According to the Podcasters, the film was, “another great piece of art by film-maker Alexander Payne. It was a wonderful movie, with a screenplay…that managed a beautiful understated reflection of the tangles of real life. But it was also a film that raised the complexities of trusts, and the law, in most U.S. states, against the bestowal of trusts in perpetuity.”

To listen to the podcast and/or read the full critique of the movie, see Eva Arevuo, A  Legal Lens on ‘The Descendants’, The RocketLawyer Podcast, Dec. 2, 2011.  

Special thanks to Jerry Cooper (senior editor, the Trust Advisor Blog) for bringing this article to my attention.

Review of The Descendants

Paul E. Trudelle recently posted a review of the move the Descendants on the Toronto Estate Law Blog. Trudelle’s review of the movie is posted below, in full:

I saw “The Descendants” on the weekend. It is a great movie in its own right, but also a great movie from the perspective of an estates and trusts lawyer. The movie raises a number of estates and trusts issues: trusteeship, powers of attorney, living wills, and the threat of estate litigation.

Without wanting to give away the plot, one of the issues referred to in the movie is the “rule against perpetuities”. I don’t expect that “rule against perpetuities” movies will be a new film genre. However, it is an interesting concept and significantly moves the story in “The Descendants” forward.

Simply put, and as well explained in the movie, the rule provides that no interest in a trust will be valid if the trust vests more than twenty-one years after the termination of some life in being at the time of the creation of the trust. The effect of the rule is that a trust cannot continue on indefinitely, and must vest at some point: that is, the trust must vest twenty-one years after the death of a prescribed person.

Much case law, legislation and commentary has evolved in relation to the rule against perpetuities. However, the general application of the rule in most cases remains, and property in a trust cannot be held in the trust indefinitely. We cannot freeze the past forever, and must move on.

Paul E. Trudelle (Attorney, Toronto, Ontario, Candana) Hollywood, and the Rule Against Perpetuities,

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.

Professor Provides Guidance to ‘The Descendants’

Randall W. Roth (Professor of Law, University of Hawaii) provided information on trusts and the rule against perpetuities to Jim Burke, the producer of The Descendants. The information provided by Roth helped build the film’s plot, as George Clooney’s character must decided what to do with a trust that must be wound down at a particular date following the rule against perpetuities.

The storyline has similarities to the trust issues that surrounded the trustees of Hawaii’s Campbell Estate a few years ago. The 107 year old trust was set to dissolve in January 2007, following the rule against perpetuities and the terms of the trust. Some heirs opted to roll their assets into a new national real estate entity, while others took large cash pay-outs. According to Professor Roth, around six family trusts in Hawaii have faced similar situations in recent years.

While discussing how these estate planning issues were incorporated into the film, Professor Roth said, “I was impressed that Jim [Burke, the producer] and Alexander [Payne, the director] were so concerned about getting the details right, even small details that most people wouldn’t be aware of.”

See Julia Flynn Siler, ‘The Descendants’ Aims to Lay Down the Law in Hawaii, The Wall Street Journal, Nov. 26, 2011.

More on The Descendants

I previously blogged about the new movie The Descendants. The Trust Advisor recently published an article describing the movie’s estate planning sub-plot in more detail. George Clooney’s character, the trustee and beneficiary of a trust that holds family lands, must decide whether to succumb to the heirs’ wishes to sell the land or to, instead, follow the family’s original intent of preserving the family lands. The trailer for The Descendants is below:

 

See Scott Martin, Don’t Miss George Clooney in the Descendants, Made to Order for Trust Buffs, The Trust Advisor, Nov. 27, 2011.

 

Estate Planning Plots

Estate planning issues can be so perplexing and interesting that filmmakers often use them as the basis for movie plots. In the new movie, The Descendants, George Clooney plays Matt, a husband and father of two, who discovers his wife’s infidelity after she is left comatose following a boating accident. Along with tackling issues involving relationships, family, and death, the movie deals with estate planning issues pertaining to trustees, the rule against perpetuities, and ancestral lands.   

Special thanks to Patrick Thiessen (Denver, CO) and Ann Murphy (Professor of Law, Gonzaga University School of Law) for bringing this to my attention. 

 

Famously Poor Estate Planning

Many famous people have died either without creating a will or without updating an old will. A list of eight celebrities who were involved in poor estate planning is below:

1. Jimi Hendrix
2. Natascha McElhone
3. Diana, Princess of Wales
4. Barry White
5. Bob Marley
6. Stieg Larsson
7. Jill Dando
8. Heath Ledger

Famous People Who Died Without a Will or Failed to Update Their Will Before Dying, The Telegraph (2011).

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this to my attention. 

Representing Deceased Celebrities

After a celebrity passes away, his or her career can continue to grow and thrive for many more years. One agent familiar with representing deceased clients is Mark Roesler, a pioneer in the legal field of representing deceased celebrities. Some of the famous clients Roesler currently represents include Babe Ruth, Ella Fitzgerald, Billie Holiday, Gloria Swanson, John Belushi, and Marilyn Monroe.

According to Roesler, product endorsements take up a majority of the work when representing deceased celebrities. Roesler’s agency also creates a web site for each of its deceased clients and maintains its clients’ fan clubs.

Before Roesler created this legal and entertainment niche twenty-five years ago, a celebrity’s right to profit from and control hir or her good name died with them. Now, thanks to Roesler’s efforts, the law in most  states provides that the rights a celebrity holds over his or her image passes to his or her heirs after death.

For more information on Roesler’s representation of deceased celebrities, see Frank Devine, How Celebs Make a Living After Death, 60 Minutes, Jan. 10, 2011.

Special thanks to Adam J. Hirsh (William and Catherine VanDercreek Professor of Law, Florida State University College of Law) for bringing this article to my attention.

Legal Battles Over Farrah Fawcett’s Documentary, Farrah’s Story.

The production of Farrah Fawcett’s documentary, Farrah’s Story, was surrounded by legal battles almost from the beginning. Fawcett originally began working on the documentary with producer Craig Nevius. Nevius claims that Farrah’s vision for the documentary was to have “the film address shortcomings she saw in American cancer treatment and to present it in art-house style.”

Fawcett’s long time on-and-off again boyfriend, Ryan O’Neal, did not see eye to eye with Nevius when it came to the film. O’Neal instructed Nevius to hand the documentary over to Robert Greenwald, another producer. O’Neal allegedly told Nevius “I’ll kill you with Farrah and then I’ll kill you in real life.” O’Neal maintains that he said “I’ll kill ya” in a joking manner. Nevius refused to hand over the documentary, and the two men continued to fight over the film.

Further complicating the project, NBC (who had bid $1.5 million for the film) continually prodded Nevius to hand over scenes, and began to question some of Nevius’ production strategies. On April 15, NBC informed Nevius that the network would broadcast the documentary about three weeks later. Nevius told NBC that he would work overtime, but that he would not give NBC a final version of the film before getting Fawcett’s approval. However, O’Neal and Richard Francis, an employee of the firm that managed Fawcett’s finances, would not allow Nevius to visit the dying actress.

Fawcett, while bed-ridden in her condominium, signed over creative control of the documentary to O’Neal. Though Fawcett’s signature appears shaky on the documents, O’Neal maintains that the “[t]here was nothing going on that was underhanded.” O’Neal then gave NBC almost free rein to finish the documentary. The final version of the documentary did not contain much of the footage addressing America’s cancer treatment shortcomings.

Nevius sued O’Neal and Francis in an attempt to regain control of the production company he and Fawcett created. Nevius also wanted to produce the documentary he claims Fawcett had wanted to make. Francis countersued Nevius, claiming that he embezzled company funds (no proof was ever offered to validate this claim).

After being told that the suit could last for over two years, Nevius decided to enter into settlement negotiations. Nevius said “I’m fighting at least two multi-millionaires…[a]nd at some point I don’t know that it’s honoring Farrah. I just don’t think she’d want us all destroying each other, which is pretty much how it’s going.”

Jim Rutenberg, The Long Goodbye, The New York Times, May 27, 2011.

Inspiration for Lois Lane Dies at 93

Joanne Siegel, the woman who inspired the character of Lois Lane, died at age 93.

Joanne met co-creators of Superman Joe Shuster and Jerome Siegel when she was just 15 or 16. The love interest of Superman became the real-life love interest of Jerome, and the two married in 1948. After Jerome died in 1999, Joanne fought to preserve the legacy of the creators of Superman, helping secure a large share of “Superman” for the Siegel and Shuster families.

See Claudine Zap, The Woman Behind Superman: Inspiration for Lois Lane Dies, Yahoo! TV, Feb. 15, 2011.

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this to my attention.

2010 Top Hollywood Earners

Vanity Fair recently released a survey on the top 40 Hollywood earners in 2010. Topping the list is James Cameron, director of Avatar, with an estimated $257 million. He easily beat actor Johnny Depp, who came in second with $100 million.

Taylor Lautner (18), Kristen Stewart (20), and Robert Pattinson (24) came in at numbers 8, 13, and 15 respectively for their roles in Twilight. This trifecta makes up the youngest members of the list.

See Peter Newcomb, Hollywood’s Top 40, Vanity Fair, March 2011; Christine Kearney, James Cameron Easily Tops Hollywood Rich List, Yahoo! News, Feb. 2, 2011.

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.

Short Comedy Film on Financial Elder Abuse

Rooftop Mind, an independent production company, recently created a 15-minute comedy film entitled The Gran’ Scam of Things. It begins with an email from Osagioduwa Williamsona, a Nigerian banker, offering a senior citizen $16,000,000 if she would respond and cooperate. This film, based on a true email, is a creative effort to educate about financial elder abuse through humor. Two reviews of the film are below:

The Gran Scam of Things, reviewed on Cinema-Crazed by Felix Vasquez Jr. (01/13/11): "Director Leor Baum's dramedy is a fantastic short that shows what happens when karma and fate plays a hand in an average woman becoming a hero and helping others in the journey for happiness. "The Gran Scam of Things" is a beautifully acted crowd pleaser and a socially conscious one at that."

The Gran' Scam of Things reviewed on Rogue Cinema by Duane L. Martin (01/01/11): "So how was it? Well, to put it simply, I LOVED this film, and my wife, who watched it with me, felt exactly the same way. There's a really nice sense of innocence to this film that you don't see too often, and it was fun from start to finish. What I found probably the most hilarious though were the fantasy scenes of Osagioduwa peeking around the side of a door on a sandy beach and then emerging with this giant 16 million dollar check and a big friendly smile on his face." 

Neil E. Hendershot, “The Gran’ Scam of Things,” PA Elder, Estate & Fiduciary Law Blog, Jan. 16, 2011.

Newest Harry Potter Movie Features Dumbledore's Last Will and Testament

A review of Harry Potter and the Deathly Hallows Part I has been released, discussing the plot, the emotional depth of the movie, and the fact that this is the scariest Harry Potter film so far. Most importantly, the review mentions that there are delightful little details, including “Dumbledore’s last will and testament unscrolling itself in mid-air.”

Anita Singh, Harry Potter and the Deathly Hallows Part I: First Review, The Telegraph, Nov. 12, 2010.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this to my attention.

Abigail Disney Pushes for the Preservation of the Estate Tax

Abigail Disney recently wrote an article expressing her opinion of the federal estate tax. She believes that her family was successful and amassed a fortune because of the pro-business protections provided by the U.S. government, and that the government deserves its share of the wealth. Here is what she said about the estate tax:

"First, the estate tax is not a double tax. Have you met a multimillionaire who earned that much money pulling down a weekly paycheck? People who make enough to be affected by the estate tax — fewer than 1% of Americans who die in any given year — amass their fortunes by investing. Investment income is taxed differently from earned income, often not at all until it's sold. People like me, who inherit assets such as Disney stock, can spend our lives watching those assets grow, and when we pass them along to our children, they have not been touched or diminished at all by the tax system. The only thing I have paid taxes on is the interest from these assets, not their increased value.

Second, opponents of the estate tax claim family farms will have to be broken up to pay the tax, but good luck finding an example of this. Further, if the exemption is kept at $3.5 million (where it stood last year) and indexed for inflation, the likelihood of this ever happening is reduced to nil.

Third, the estate tax incentivizes people like me to do good with our wealth because there is no estate tax on donations to charity. My filmmaking and foundations rely on a tax code that supports a vigorous non-profit sector, a vital part of our society that is bigger and stronger because of the many millions of dollars that flow into it as a result of the estate tax and other tax provisions."

Abigail signed the Call to Preserve the Estate Tax and urges others to do so as well.

Abigail Disney, Mickey Mouse, the Estate Tax, and Me, USA Today, Aug. 30, 2010.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.

Family Biographies

Karen DeMasters recently published her article entitled Now Playing: The Family Legacy, Private Wealth, July 2010. An excerpt from the beginning is below:

The documentary begins with sepia- toned family photos fading in and out with the passage of time until you see a baby picture, but hear the voice of an elderly gentleman explaining that he was born at exactly the right time. The video is the family biography of Elmer Wavering, who was fascinated by the radio as a child and grew up to invent the car radio.

The video was made for the Wavering family as a memorial to Elmer and his legacy.

It is one of about 30 biographical documentaries Robert H. Jordan Jr. and his company, Video Family Biographies, has produced for ultra-high-net-worth families, who look upon the movies as a way to preserve forever the family’s philosophies, ideals and origins. The stories are sometimes about building a family business into a multimillion-dollar enterprise. Others are meant as a memorial to be passed on to future generations. Sometimes the project is prompted by a family tragedy or transitional event.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.

Wife Murders Husband to Inherit Batman Collection

A year ago, Ben Novack Jr. was found brutally murdered in a hotel suite. On Thursday, federal prosecutors announced the indictment of four people, including Mr. Novack’s wife, for the murder.

Ms. Novack’s motive was greed; she was intent on eliminating her husband in order to receive his family fortune. Mr. Novack’s estate was valued at approximately $6 million at his death and included the world’s second-largest collection of Batman-themed memorabilia.

A struggle over the estate has already developed. In February, a Florida judge named Ms. Novack personal representative of the estate before reversing three days later. He ordered her to post a high bond before becoming personal representative, but she never posted the bond.

Ms. Novack has also sought to gain control of Mr. Novack’s mother’s estate. Mrs. Novack’s death might also have been a murder, and authorities are investigating the issue further.

See Sam Dolnick, Four are Indicted in Suburban N.Y. Hotel Killing, N.Y. Times, July 8, 2010.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this to my attention.

What Happened to Hattie McDaniel's Oscar?

In 1940, Hattie McDaniel won Best Supporting Actress for her role as Mammy in “Gone With the Wind.” Upon her death, she bequeathed her award to Howard University where it was displayed for several years before disappearing. Possible explanations for the disappearance of this historic award, valued at $550,000, include:

• Students took it in protest to McDaniel’s role in the movie
• The plaque was moved for safekeeping and was never returned to its display case
• A professor walked away with it
• It was stolen and then sold to a collector

The academy refuses to create replacement awards for heirs who have come into possession of an award after the recipient’s death. Instead, the academy sent a framed photo of McDaniel and some commemorative McDaniel postage stamps to Howard University. Some people remain optimistic that the Oscar will eventually be found.

See J. Freedom du Lac, And Hattie McDaniel's Oscar Went to...?, The Washington Post, May 26, 2010.

Special thanks to Alfred Brophy (Professor of Law, UNC School of Law) for bringing this to my attention.   

Law & Order Episode Incorporates Estate Tax Mess

On May 10th, NBC aired an episode of Law & Order entitled The Taxman Cometh.  This episode has as its central plot point the lack of an estate tax in 2010.  A brief summary of the episode from Fancast is below:

Detectives Cyrus Lupo (Jeremy Sisto) and Kevin Bernard (Anthony Anderson) are called in to investigate the death of a young heiress, Annie Douglas (guest star Morgan Lynch), who died of an apparent drug overdose. The detectives begin to suspect her cousin, Randy (guest star Daniel Abeles), whose inheritance was increased due to Annie's death. As the investigation continues, Annie's greedy relatives reveal another recent loss in the group. The case becomes more than a family matter as an experimental cancer clinic, fraudulent adoptions and unborn children are tied into the case.

A video clip from the episode is below:

Special thanks to Velina C. Underwood (attorney, Gualala, CA) for bringing this to my attention.   
 

Old Comedy, Current Trust Concepts

In September of 1952, the comedy Just This Once was released.  The following is a plot summary from The Internet Movie Database:

Mark MacLene owes the IRS, the banks and others a lot of money. The problem is that his trust makes $1,000,000 a year, but he spends $150,000 every month. His trustee, Sam, uses the power of attorney and the spend thrift clause to hire frugal Lucille Duncan to manage Mark's finances. Presented with thousands of dollars for gifts and charges from the night before, she immediately cancels his charge accounts and returns as many gifts as she can. Then she puts Mark on a allowance of $50 a week, which upsets him even more. To get rid of Lucy, Mark moves in with her and makes sure that her boyfriend Tom receives a huge raise. He thinks that Tom will now marry Lucy and he will be rid of her tight control.

Special thanks to Kayla Childs (J.D. candidate 2011, Texas Tech University) for bringing this movie to my attention.