Joan Rivers recently passed and rumors have abounded about her daughter Melissa inheriting an estate valued at about $100 million. Do you know what to do with a large Palm Beach inheritance? What about when its mostly physical property and not accounts and portfolios?
Estate and Wealth Management
- Bulk inheritance is becoming less and less common with many experts noting that living inheritances are becoming more and more popular.
- In this case an adult parent would support a child throughout their life with inheritance property slowly rather than dumping it all at death.
- Do you know why?
- Also trusts have become more and more common to replace standard transfers ofprobate property.
- A trust contrary to common belief can be made to transfer the property free of trust after a donor’s death without much issue.
- What happens when you inherit a bulk of physical property like Melissa Rivers did when her mother passed away?
- Have you considered auctioning off the items?
- Check out what the personal representative of Joan River’s estate has done.
The Estate of Joan Rivers
- This is not to say that there was no real estate, Joan left an Upper East Side Apartment that is currently listed for sale at $28 million.
- A once crumbling ballroom, the space was restored by Rivers and adorned with Louis XVI furniture.
- Joan also left a bulk of personal items in her apartment and Connecticut estate that have to be auctioned off.
- Christie’s auction house is rumored to be putting a ton of River’s personal goods up for auction and it would not be the first time either.
- Do you know where your physical items are going, or do you plan on liquidating them through auction?
- Palm Beach probate litigators know that planning for one or two pieces of real estate is easy but that sometimes the bulk of a person’s estate are physical heirlooms of great importance.
- Joan River’s estate was estimated at $100 Million but her daughter denies that amount adamantly.