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 [email protected] .

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
[email protected]

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
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
SYS-CON Events announced today that Sheng Liang to Keynote at SYS-CON's 19th Cloud Expo, which will take place on November 1-3, 2016 at the Santa Clara Convention Center in Santa Clara, California.
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.