Holographic Will Found Months After Aretha Franklin's Passing

Aretha Franklin’s passing during the summer of 2018 left her children in a state of despair, revealing that Franklin had no proper will or trust to distribute her wealth. It was estimated that her ownership in real estate is worth nearly $80 million and yet there was no preservation/ distribution plan in action. Her case was sent to a Probate court in Los Angeles where a judge was set to make the decision on how to distribute the wealth she worked her whole life for. Franklin left behind four sons, all of whom anxiously await the decision of a stranger to determine their financial future and their mother’s legacy.  

As the family anticipated the hearing, it was revealed in early May of 2019 that a holographic will was located on the premises of Franklin’s home. Under investigation of the found drafted will, it was stated Franklin wanted her son Kecalf to be the executor. However, it appears that he may be unfit to do so. After bringing in a handwriting expert, the court deemed the will in fact be the late Aretha Franklin’s. The Franklin family, despite having Kecalf stated as the executor has decided to name him and Franklin’s niece, Sabrina Owens co-executors. 

Life after losing a loved one can be daunting and may bring about internal conflicts and confusion. It is necessary that individuals of all financial backgrounds ensure certainty by planning appropriately for what the future may hold. Tresp Law has expertise in establishing that security for you and your loved ones. With an extensive repertoire of experience, Elizabeth and her team can guide you in making life’s important decisions that are often neglected. We understand that this process can be stressful and emotional, therefore it is of our utmost priority to plan with your optimal desires in mind.  

https://www.forbes.com/sites/markeghrari/2018/10/16/aretha-franklin-left-an-80-million-estate-and-no-will-heres-why-that-matters-to-you/#40cae9015375 

Knowing that you have planned for your family's long-term well-being and financial security can assure you that your lifetime of hard work is safe. At Tresp Law, APC we are dedicated to our clients.

2018 Super Lawyers Selection

I am honored to have been selected by Super Lawyers® to the 2018 Rising Stars List.

Only 5% of attorneys are selected for Super Lawyers, and only 2.5% make the Rising Stars List. At Tresp Law, APC, we take tremendous pride in the work we perform for our clients, and I am tremendously honored to have been recognized by the community for the work of our entire team. 

Our attorneys are dedicated to providing personal, responsive legal services to families and businesses throughout Southern California. We are, above all else, results-oriented. Client satisfaction is our top priority.

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Will Your Trust Actually Work as Intended? A Harsh Lesson That Lost the Family Home

So you have a Trust. Good move. But when the time comes, will your Trust actually perform as intended?

A poorly written Trust will only give you a false sense of security, and even if your Trust is well-written, neglecting to fund or follow the provisions of your Trust will render the document worth little more than the paper on which it was printed.

From the annals of "you don't have what you thought you did" comes the instructional story of a Newport Beach homeowner, who thought he had protected his multi-million dollar home with a "QPRT" (Qualified Personal Residence Trust), only to find out at the worst possible time that his Trust failed miserably.

As an attorney with high-net-worth clients who turn to me to protect their assets, I understand well the importance of meticulously drafted Trusts that can withstand all challenges. As a litigator, all too often I see rusts that do not perform as intended.

I encourage you to read this article, published in Forbes by Jay Adkisson, but the principal lessons are:

1. Laws and circumstances change. Your Trust is a living document that must be kept up to date.

2. A QPRT can be an excellent tool to mitigate future estate tax liability, but only if drafted effectively, which brings us to the next lesson:

3. Irrevocable means irrevocable. Even if your Trust is supposed to be irrevocable, if provisions therein allow you to revoke it, then you may be at risk.

4. Finally, filing for bankruptcy must be approached with extreme caution.

Don’t hesitate, contact Tresp Law, APC today to ensure your trust will work as intended.

How Well-Written is Your Estate Plan?

Even if you have an estate plan, how well-written is it, and have you kept it up to date? The heirs of Robin Williams have commenced an expensive court battle due to conflicting provisions in his trust. Read more here.

Essentially, Robin Williams' estate plan included a trust that granted his children his memorabilia and awards in the entertainment industry and some other specific personal items, but also called for the creation of provisions to benefit his wife, which included the couple's home and "the contents thereof,” according to his will.

Pitfalls and conflicts such as this are all too common in many trusts I have reviewed. Simply put, not all estate plans are created equal.

We can review your estate plan today to ensure that your heirs don't fall victim to the same unfortunate errors that plague Robin Williams' heirs.