Widely recognized as one of the best and most popular actresses of all times, Elizabeth Taylor’s death this week at the age of 79 caused great sadness throughout Hollywood — and indeed the whole world. Given her success, both on the screen and off, perhaps it should be no surprise that Elizabeth Taylor’s fortune has just been estimated to be worth as much as one billion dollars.
Why so much? Certainly movie royalties alone could not account for that kind of value in her estate. Instead, as ABC News recently reported, her perfume and other business ventures were groundbreaking and highly profitable.
The ABC News article also included portions of an interview with both of us, in which we addressed what one would expect in terms of estate planning for a person of such great wealth and fame. But, as we explained in the interview, there are many examples of wealthy Hollywood celebrities who pass away with very poor estate planning, or no planning at all.
Michael Jackson had Read more...
Famed 90-year-old actor Mickey Rooney, who has won an Oscar, Emmy and a Golden Globe, now plays a much sadder role. It’s one that is far more common than most people realize.
Mickey Rooney says he has been a victim of elder abuse at the hands of his stepson, who has made him a prisoner in his own home. In a recent court filing, Rooney alleges that the stepson, Chris Aber, along with Aber’s wife, have taken control of his finances, intercepted his mail and even forced him to do performances he did not wish to do.
Rooney says they’ve also drained almost $400,000 from his bank accounts and refused to give him his own ID cards, passport, and Screen Actor’s Guild card. In fact, a judge recently ordered Aber to turn the cards over to Rooney within 24 hours.
Mickey Rooney Elder Abuse Testimonial
The court appointed an independent attorney to serve as a temporary conservator to protect Rooney, pending a full evidentiary hearing. Following the upcoming hearing, scheduled Read more...
It seems that conservatorships may become a new trend to help wild and out-of-control celebrities in Hollywood.
It sure helped Britney Spears. After her escapades of a hairless head, posing for the paparazzi with no panties, and excessive partying and drinking, her father, James Spears, filed for conservatorship. This allowed him to become her legal decision-maker and help turn her life and career around.
Then came talk of a conservatorship for Lindsay Lohan. She’s had multiple DUI arrests and been sentenced to jail time and rehab, more than once. Most recently, she’s facing a possible felony sentence for allegedly lifting a diamond necklace from a jewelry store.
A few months ago, Lindsay bristled at the reports that her father was attempting to file for conservatorship over her. Michael Lohan did not end up filing the court case, but with this latest criminal trouble, can another attempt be far off?
Most recently, Martin Sheen and his wife are said to be considering filing for conservatorship for Charlie Sheen. With the recent Read more...
A federal judge has decided that it’s time for actor Wesley Snipes to begin serving three years in jail, which he had been sentenced to two and a half years ago. The star of such films as Blade, White Men Can’t Jump, and U.S. Marshals was convicted of three misdemeanor sentences for willful tax evasion on May 1, 2008. After pursuing appeals (which failed) Snipes has been free on bail, but that now has come to end.
The Judge ruled:
The Defendant Snipes had a fair trial; he has had a full, fair and thorough review of his conviction and sentence by the Court of Appeals; and he has had a full, fair, and thorough review of his presents claims, during all of which he has remained at liberty. The time has come for the judgment to be enforced.
You can read the Judge’s full decision here.
At first blush, 36 months in prison may seem excessive. These are misdemeanors after all, and Snipes was exonerated of the Read more...