Wednesday, February 6, 2013

Talking Loud and Saying Nothing

James Brown died in 2006.  His estate moved a step closer to settlement this week after  a federal lawsuit filed by his former business partner was dismissed.  After years of litigation, the estate was to be divided between his wife, his heirs, and his "I Feel Good Trust."

However, his former pr woman and song writer claimed to have worked with him on the child welfare trust in the 1980s and that his intent was to leave all of his assets to it.  She claimed that the South Carolina attorney general had ignored her, that 100 attorneys had refused to take her case because they were politically intimidated, and that she has a right to be heard and to exert control over the distribution of funds.

Several points:

1.  The court was correct to dismiss the case.

2.  How a probate related case which is handled at the state level lasted 16 months in a federal court is perplexing.

3.  An estate plan can easily change multiple times over 20 years so what James Brown wanted in 1980 could differ greatly from what he wanted in 2006.

4.  It is advisable to ensure that estate planning documents reflect current wishes.

5.  Sorry, sweetheart, but no one has "a right to be heard"  nor do they have the right to exert control over funds unless they are the trustee.   You were simply channeling one of James Brown's hits.