Estate of Denial news clips (10/7/16)

Clear and Present Inheritance Dispute: The Battle Over Tom Clancy’s Estate

Forbes

September 29, 2016

If you haven’t heard of Tom Clancy —  for novels and movies like Hunt for Red October, Patriot Games, Clear and Present Danger — then your kids have, due to a series of video games inspired by his work. Many of his books featured CIA analyst turned president (a really common career path) Jack Ryan, along the way creating the “techno-thriller” genre with extremely realistic plots that in some cases foreshadowed real-world developments.

Clancy was known for his attention to detail, especially with military tactics and hardware. But evidently he didn’t put the same level of detail into his estate plan… a mistake that will cost his heirs millions of dollars in estate tax.

 

NFL rejects Tom Benson’s ownership deal with estranged family’s trusts (TX/LA)

NOLA.com

September 30, 2016

The National Football League has rejected Saints owner Tom Benson’s original proposal to remove team ownership from his estranged family’s trust funds, forcing the 89-year-old to make another attempt with new financial terms, court records show.

The NFL won’t allow Benson to personally guarantee promissory notes he offered in exchange for Saints shares held in trust funds created for his daughter Renee Benson and grandchildren Rita and Ryan LeBlanc, court filings show.

 

In Prince estate case, blood relation may be unnecessary

Madison.com

October 3, 2016

MINNEAPOLIS (AP) — A legal wrinkle in Prince’s estate case shows you might not have to be a blood relative to inherit some of the late rock superstar’s sizable fortune.

No will has surfaced since Prince accidentally overdosed on painkillers in April, so his sister, Tyka Nelson, and five half-siblings are likely to be declared rightful heirs within the next few months.

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