WEALTHY DEVELOPER DIES AT 81, WITH 3RD WIFE AND # PROBATE LAWSUIT
This is a very recent #probate litigation case from California, decided literally days ago. This #estate lawsuit is about adult children who wanted an #inheritance, wondering where millions of dollars went between 2005 and 2009 — when dad married his third wife until he died.
Where did all of dad’s money go?
Who took my #inheritance?
Robert was a wealthy California real estate developer who was worth millions and millions of dollars in 2005 when he married for the third time. He was married to his third wife when he died in 2009, at age 81. This is a case of Robert’s adult children from another marriage suing their #stepmother, in an #inheritance lawsuit.
15 DAY #PROBATE TRIAL OVER #INHERITANCE – CHILDREN WIN #ESTATE VICTORY OVER #STEPMOTHER (THEIR DAD’S THIRD WIFE)
After a 15 day #probate trial, the adult children won the #probate lawsuit. The #probate court found the third wife liable for:
- Financial #elder abuse
- #Undue influence
- Breach of #fiduciary duty
- Conversion of property
- #Constructive trust
The #probate court also voided Robert’s #testamentary trusts and #trust amendments.
BACKGROUND FACTS OF #EXPECTED INHERITANCE FOR CHILDREN
Roberts children and grandchildren expected to receive in #inheritance. Robert had a complicated #estate plan, with real estate and money. He had a #revocable trust and numerous #trust amendments to the #trust, prepared by his #estate lawyers. His last #trust amendment, when he got married in 2005, gave his children a #trust inheritance. That all changed after his third marriage.
NEW #TRUST AMENDMENT WITH THIRD WIFE-she gets half of the # estate
Around the time he got RE-married, married for the third time, Robert signed a #trust amendment — his tenth #trust amendment, giving half his #estate to his new wife, and the other half to his children and grandchildren.
FROM NEW MARRIAGE TO DEATH —-MORE #TRUST AMENDMENTS OVER 3 YEARS – THIRD WIFE KEEPS GETTING MORE OF THE #ESTATE
- Between May 2005 and 2008, Robert signed more #trust amendments, giving more and more of his #estate to his #third wife upon his death and #disinheriting his two eldest children.
- June 2008: Robert and his third wife sign a #joint trust
- this new #family trust was written by – – – who else? —the third wife’s #estate lawyer!
- This new #family trust gave the third wife considerable rights in the #family trust
Was this a money grab?
CHILDREN SUE #STEPMOTHER OVER DAD’S #ESTATE AND MILLIONS: #probate court says third wife spent too much!!
- The #probate court, after the #probate trial, ruled that Robert had #testamentary capacity to execute the #trust instruments, but it found the #third wife liable for #undue influence in the procurement of Roberts #estate plans.
- The #probate court voided most of his #trusts and #trust amendments
- Invalidated #real property deeds
- “The court concluded that much of [ the third wife’s ] spending during her marriage to [ Robert ] constituted acts of #financial abuse and conversion”
- The adult children won #attorney’s fees and costs
This is a huge #estate victory for family members versus stepmothers, and third wives. This is a big #inheritance lawsuit victory for #beneficiary rights to #probate, #estates, and #trusts.
FOR REFERRAL SOURCES, LAWYERS AND LITIGATORS
We help you with Florida estate and trust administration and trials, and #probate appeals.
Our #Florida probate law firm
- does not draft estate plans
- does not draft wills and trusts
- does not steal your clients or your probates
Our #West Palm Beach, Florida #probate litigation firm :
- hands your clients back to you at the conclusion of the #Florida litigation
- after all, they are YOUR clients
- we try cases
- we handle appeals
- restricts its practice to #Florida probate disputes
- we work with you on #Florida estate administration, #Florida probate
- we litigate for and protect beneficiary rights
- we represent #Florida personal representatives or executors, and #Florida trustees
- we receive 95% of our clients from other lawyers
- we take contingency fee cases.
Who are we? Our firm is comprised of
- serious Florida litigators,
- focused probate lawyers,
- experienced paralegals and support staff.
We have been involved in high profile, nine figure, multi-million-dollar #Florida estates, including Madoff matters, old # Palm Beach money and complex trusts and multi-party #Florida probates. We also handle “small” or “simple” matters. All we do is litigate and help you with #Florida estate and trust administration. #Tortious interference with an inheritance and allegations of #undue influence, and #will challenges and trust challenges are a unique subspecialty of the law. Does your client know which ones to file, when to do that, and why? Do you know the different ways to prove each case? How about quantifying or assessing damages? It would be our pleasure to work with you and to serve your clients. For a complete copy of this very recent legal opinion please email michelle@pankauskilawfirm.com.
John Pankauski, www.johnpankauski.com, is the author of The Trustee’s Book – An Individual’s Guide To Money, Misfits, Marriages, and Mismanagement, and the upcoming The $41 Trillion Inheritance War. He is an estate and trust litigator in West Palm Beach, Florida, www.pankauskilawfirm.com, and has been featured on the CBS Evening News, The Wall Street Journal, MarketWatch, NBC, ABC and Fox networks.