Showing posts with label trustee. Show all posts
Showing posts with label trustee. Show all posts
Friday, January 21, 2011
SCOTUS Reprise: Stripper's Estate Gets Second Oral Argument
Money isn't everything, right. Yet here is SCOTUS, taking a close second look at the money.
A case involving a Texas Billionaire's massive estate and a washed-up model turned stripper is on the SCOTUS docket for oral argument today, for the second time. You recall this case.
The estate of former Guess Jeans model whose, er, "married" name was Vickie Lynn Marshall, and who worked under the name Anna Nicole Smith, has carried on the lawsuit she filed shortly after J. Howard's death in 1995 at age 90.
Plenty of eyebrows were raised and family feathers ruffled in 1994 when Mr. Marshall took Smith as his third wife. Then he died and the lawsuits began.
And these lawsuits have just not stopped, despite (and perhaps because of) the fact that all the litigants have died. Anna Nicole Smith died in a drug overdose in 2007, shortly after the U.S. Supreme Court reversed an unfavorable decision for Smith issued by the U.S. Court of Appeals for the Ninth Circuit.
The case involves the scope of federal jurisdiction, eventually engulfing three separate court systems. At his death, Marshall had long established a trust estate plan leaving everything to his son, E. Pierce Marshall, who was also named trustee of the trusts. Smith contested the trust plan, asserting that Marshall told her he would leave a portion of his estate to Smith.
What would have been a simple, although large, Texas county probate tussle went federal when Ms. Smith was hit with a default-judgment for, of all things, sexual harassment. She filed for bankruptcy in California and her deceased husband's trustee-son claimed non-dischargability along with libel for statements Smith allegedly made against the decedent. Smith counter claimed in the bankruptcy court for interference with her husband's estate plan.
Now hang with me on this....
The federal bankruptcy court not only dismissed the trustee's claim, it awarded Smith nearly half a billion dollars on her counter claim, finding that Marshall's son did interfere with his father's testamentary wishes. This ruling was taken to the U.S. District Court where Smith's award was reduced to a paltry $88 million.
In the meantime, in an entirely separate proceeding, a Texas probate jury found that the decedent's estate plan was valid, ruling against Smith. These decisions were then considered by the Ninth Circuit who invalidated the federal district court's award to Smith, holding that the Texas probate court had exclusive jurisdiction over such matters.
SCOTUS disagreed back in 2006, reversing the Ninth Circuit and holding that some issues tainted by state probate court could legitimately find their way into federal court via a properly raised bankruptcy-related issue; i.e. Smith's counterclaim. The High Court then remanded the case back to the Ninth Circuit for a determination on the merits of that claim.
On those said merits, the Ninth Circuit again ruled against the stripper. Again, the stripper, this time through her estate because she had died, appealed to SCOTUS who once again granted certiorari. Responding to her claims is the estate of E. Pierce Marshall, who died shortly after Smith.
And now, viola, oral argument, chapter two is here today. Stay tuned for the result.
This time, the issue concerns the very nature of federal jurisdiction; delving even deeper into that subject than the first go around.
Regardless of how the High Court rules, the lesson we take away from this suit is that money drives the bulk of all litigation. Sometimes justice is just roadkill along side the road.
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info@clarkstonlegal.com
Labels:
Anna Nicole Smith,
bankruptcy,
J. Howard Marshall,
probate court litigation,
SCOTUS,
trust,
trustee
Friday, June 12, 2009
Law Partners Serve as Professional Fiduciaries
Our firm, Karkstrom Cooney, LLP., has two partners that serve as professional fiduciaries. A professional fiduciary combines his or her legal knowledge of probate law with a common sense approach to conflict resolution.Kathryn Caruso is a trustee on several large trusts. She brings her experience to bear in the management of various funds, and by managing disputes among competing beneficiaries. In addition to serving as a trustee on numerous trusts, Ms. Caruso also drafts trusts designed to avoid conflicts and expensive litigation. When a dispute among beneficiaries or family members cannot be resolved, Ms. Caruso, an experienced probate litigator, is hired to advance her client's interests in the probate court.
Timothy Flynn serves Oakland County as a court-appointed fiduciary on more than 50 guardianships and conservatorships. As guardian, Flynn makes residential placement decisions and is responsible for his wards' medical well-being. As a conservator, Flynn marshals and conserves his wards' financial assets. The probate court oversees and endorses the decisions made on behalf of Flynn's wards.
If you or a family member have an estate and would like to avoid probate with a trust, or have a loved one that could benefit from a guardianship or conservatorship, contact our office to explore your options.
Labels:
conservatorship,
fiduciary,
guardianship,
trustee,
trusts
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