Tag Archives: life insurance

Can Florida Millionaire Justify Adopting His Girlfriend?

John Goodman is the 48-year old multimillionaire from Palm Beach, Florida who recently made headlines when it was publicly revealed that he adopted his 42-year old girlfriend to help protect the family fortune.

john goodman adopts girlfriend

Goodman did this in the midst of criminal and civil legal proceedings pending against him.  They arose from the February, 2010 drunk driving incident during which Goodman reportedly ran a stop sign, killed a 23-year old man, and fled the scene.  When it was recently revealed that Goodman, in October of last year, had legally adopted his girlfriend, people across the country were outraged.

Goodman’s lawyer issued a statement defending the adoption.  He states that the adoption was done to protect Goodman’s children, not to shield assets from the family of the slain driver who is suing him.

While Goodman has been bashed across the country for his legal maneuver, it actually makes sense from a probate law perspective.  Years ago, Goodman placed $1.5 million into an irrevocable trust for his two children.  By investing that money Read more...

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Whitney Houston Denies She’s Broke; Wins Lawsuit Vs. Step-Mom

Celebrity gossip websites ran a story last week claiming that Whitney Houston is “broke as a joke.”  They even quoted an unnamed (of course) source claiming that Whitney would be homeless if not for the generosity of friends.  She called someone to ask for $100, the story goes.  If true, that would be quite a fall from financial grace for the singer who signed a $100 million record deal in 2001.

Image via Wikipedia

Whitney’s camp quickly denied the rumors and says they are “false and ridiculous“.  Her rep points out that she just made a movie called Sparkle, with Jordin Sparks, and she didn’t work for free.

If Whitney is in need of money, she has another source she can pursue.  Don’t be surprised to see Whitney Houston foreclose on her step-mother’s home soon.

Why would Whitney Houston do that?  She recently claimed victory in the Federal Court of Appeals for the Third Circuit, in a sometimes-ugly lawsuit against the woman who married her father. Read more...

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Michael Jackson Estate Faces $17.5 Million Insurance Fight

Legal controversy has surrounded the Michael Jackson Estate ever since he died almost two years ago. Trial & Heirs did a year in review article last year; it’s almost time for year two. You can now add a new lawsuit — over $17.5 million worth of insurance — to the list. Michael Jackson Estate

Concert promoter AEG Live took out the large insurance policy over Michael Jackson in case he died and was unable to perform the “This Is It” concert tour. Of course, that’s exactly what happened, showing that AEG was smart to take that precaution. Reportedly, AEG spent some $20 to $25 million on the tour before the King of Pop’s death, and this insurance was supposed to protect that investment. Both AEG and a Michael Jackson limited liability company that is controlled by the Estate were named as beneficiaries eligible to collect that money under the policy.

Michael Jackson Estate Insurance Claim Update

But, AEG and the Estate haven’t collected this money yet … and both are now embroiled in Read more...

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Whitney Houston v. Step-Mother Fight Now In Court of Appeals

While Whitney Houston was reportedly just admitted to rehab, she has one other concern that she still has to face — her no-holds-barred court fight with her late father’s widow.

In Trial & Heirs: Famous Fortune Fights!, Andy and Danielle Mayoras discuss the lawsuit involving Whitney Houston against Barbara Houston over a one million dollar life insurance policy.

You can read about Whitney’s battle against her “step-mother”, including how Whitney used the public lawsuit to attack Barbara Houston and her relationship with Whitney’s father, in this excerpt from Trial & Heirs that was featured on The Huffington Post.

The case has now moved on to the Court of Appeals after Whitney scored a big victory in the United States District Court for the District of New Jersey late in 2010. The Judge ruled in her favor, even though he first discussed multiple letters sent between various of Whitney Houston’s accountants and attorneys; several letters validated Barbara Houston’s claim.


These letters supported Barbara’s position that the one million dollar Read more...

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