Welcome!

News Feed Item

Mick Jagger Could Face Legal Challenges from L'Wren Scott's Siblings Over Inheritance, According to Top Estate Planning Lawyer

Robert J. Kurre, of Kurre Schneps LLP, says situation is a cautionary tale for those who wish to disinherit next of kin

MANHASSET, N.Y., April 2, 2014 /PRNewswire/ -- The late L'Wren Scott's $9 million estate, which she left to boyfriend Mick Jagger in a three-page will, has significant issues that could result in his receiving nothing, according to nationally recognized elder law and estate planning attorney Robert J. Kurre, Esq. of Kurre Schneps LLP in Manhasset, N.Y.

Since Scott's will does not provide for her brother and sister, she left them with "an invitation to start a lawsuit over her will," says Kurre.  Under New York law the next of kin, who would receive the estate if no will existed, must either consent in writing to the will or they will be served with a citation calling them into court. 

"When the next of kin are left out of a will, they often initiate a legal challenge, especially when substantial assets are involved.  Disgruntled heirs use this as an opportunity to voice their objection in hopes of a settlement so the beneficiaries named in the will can avoid lengthy, expensive litigation," he says.  "This situation is a cautionary tale to anyone who wishes to disinherit their next of kin or leave assets to them in unequal shares."

Since Scott committed suicide and her will was prepared less than a year ago, Kurre expects her siblings will claim that she lacked the legal capacity to execute her will.  If successful, their lawsuit, which could go on for years, would keep the will from being accepted by the court and her estate would pass equally to them.

Although Scott was a New York resident, she had her will drafted by a California attorney whose specialty is listed as real estate and business law.  The attorney had the will hand delivered to Scott while she was at a hotel and she executed it that same day.  Since the attorney was not present when Scott signed the will, it is also likely to be challenged, and possibly overturned, on the grounds of not meeting the legal formalities to execute a will. 

In addition, Kurre notes that Scott leaving her entire estate outright, rather than in a trust for the benefit of Jagger, was a mistake.  "If the will is admitted to probate, she made a wealthy man even richer by leaving the assets outright to him.  Jagger's net worth is estimated to be $305 million according to celebritynetworth.com.  Since Jagger will not need the money, the gift made in the will may serve only to increase the value of his estate, resulting in millions of additional dollars in estate taxes due at the time of his death." 

Kurre says Scott could have set up her estate to avoid probate by establishing a revocable trust during her lifetime, which would have acted as a substitute for the will.  In that case, her assets would have passed directly to Jagger without a court proceeding, and her brother and sister would not be asked to consent to the will or be served with a court-issued citation.  In addition, she could have included a "no contest" clause which provides that if her brother or sister challenged her estate plan and lost, then he or she would get nothing.  However, a no contest clause works only if you are willing to leave something of value to the potentially disgruntled heir.

Also, if Scott left her estate in a trust for the benefit of Jagger, the inheritance could have been protected from lawsuits and creditor claims against Jagger and been excluded from his taxable estate.  In the trust, Scott could have also directed who would receive the money remaining in the trust upon Jagger's death, rather than leaving that up to the rock icon.

Kurre cautions that "law, like medicine, has become very specialized, and the benefits of working with a seasoned estate planning attorney to protect a legacy and have your wishes carried out cannot be overstated."

Kurre offers an educational guide entitled A10 Costly Mistakes to Avoid When Setting Up Your Estate Plan."  To receive a free copy, call 516-829-7900 or e-mail amessina@klsllp.com .

About Kurre Schneps LLP
Kurre Schneps LLP is a Manhasset-based elder law and estate planning firm with an "AV" rating, the highest rating in legal ability and ethics from Martindale-Hubbell, the preeminent attorney rating organization. For more information, visit Kurre Schneps LLP.

File No. 2014-1125 in the New York County Surrogate's Court.

Contact
Kurre Schneps LLP
Estate Planning & Elder Law Attorneys
Robert J. Kurre, Esq.  516-829-7900
rkurre@klsllp.com

SOURCE Kurre Schneps LLP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often un...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, will discuss how to use Kubernetes to setup a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace....