austrian euro


Imagine disgruntled relatives bickering over your legacy when you’re gone. Now imagine if you strongly dislike those relatives and don’t want to have anything to do with them. Well, the simple solution would be to cut them from your Will, right? Make sure they don’t inherit a dime and get some payback for the awful way your relatives treated you?

Apparently, it’s not that simple in Austria. Find out why one grandmother cut up her fortune in anger rather than simply disinheriting her grandkids from her Will:

Austrian woman shreds her fortune.

Celebrity wills


After the death of late comedian Robin Williams in 2014, there was an ongoing battle over his $100 million-dollar estate between his wife and three children, Zachary, Zelda and Cody. The contents of his legal Will and his estate had been fought over in an continuing dispute which has seen no resolution until very recently.

Some highlights to note over the court’s decision regarding William’s estate and assets are:

A) William’s wife, Susan, retains ownership of their home in Tiburon, California
B) William’s children have acquired ownership of William’s memorabilia and awards, along with other (unnamed) items

You can read more HERE.

frank gifford


If you’re familiar with the name Gifford, then you most likely know the name and reputation of famous talk show host, Kathie Lee Gifford. The co-host of Live with Regis and Kathie Lee reigned supreme on America’s airwaves for more than a decade, but her admittedly less known husband of 29 years,  Frank Gifford, had a successful television career of his own as the charismatic NFL sports commentator of Monday Night Football.

Originally married to Maxine Avis Ewat for six years, Frank divorced his first wife and married Kathie Lee in 1986. The marriage with Kathie produced two children: Cody (now 25) and Cassidy (now 22). His other three children, Jeff, Kyle and Victoria, were the product of his first marriage to Maxine.

Frank passed away on August 9th, 2015, just a few weeks shy of his 85th birthday.

Revelations surfaced last month that the majority of Frank’s $10 million dollar fortune was to be given to Kathie Lee and their children. Frank’s first wife, Maxine, was left nothing, while Jeff, Kyle and Victoria only received $2 million from that $10 million dollar fortune. Although an enormous sum to many, Frank’s Last Will and Testament clearly favours his second family over his first.

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amy


We’ve previously written about a few famous singers who have succumbed to illness or have died in the past few years or so. This next singer is no exception.  Although not as famous as her peers in the music industry, Amy Winehouse proved herself to be an exceptional songstress with a beautiful voice. She passed away at the age of 27 in 2011 from an overdose. 

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Actress Ruth Ford, The Millionaire Butler


We’ve recently published many stories as of late, detailing the extravagant legacies left behind by some rather wealthy people. The deceased have left their mark on the world; donating vast sums of fortunes to charitable institutions, facilities, or to their loved ones.

Does an employee count as a “loved one?”

Indra Tamang is an former butler who inherited a fortune from his now-deceased employer, Ruth Ford. The fortune he inherited is his reward for his years of steadfast loyalty spanning over three decades, working as a cook and a caretaker for his now-deceased employer. Indra now owns an estate worth $8.4 million dollars.

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Leona Helmsley and her dog, Trouble.


Ever fantasize about inheriting millions from a dead rich relative? Now imagine if fantasy became reality and those riches were up for grabs, only to be cruelly yanked away.

Craig and Meegan Panzirer are the grandchildren of the now deceased Leona Helmsley, a wealthy businesswoman from New York who was infamously dubbed the “Queen of Mean” by the media. The reigning matriarch of the family had amassed a fortune after dabbling in real estate and marrying a like-minded real estate tycoon. Helmsley had a reputation for being overbearing and difficult to pretty much everyone, including her staff, business associates, and even her grandchildren. Her reputation is further sullied by the fact that she was also indicted on several charges of tax evasion, only ever serveing a twelve-month prison sentence.

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janitor


Robert Read, a former (deceased) janitor from Brattleboro, Vermont, had a keen eye for picking out stocks. Known outwardly as a frugal and unassuming penny pincher, the local residents of Battleboro were shocked when news of his $8 million dollar fortune came to light. Indeed, his most expensive purchase was $5,000 for a Toyota, and he often wore the same worn-out clothing.

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gold


Are you familiar with the popular television show Shark Tank? Shark Tank features aspiring entrepreneurs pitching their investment ideas to seasoned investors like Barbara Corcoran. Corcoran actually refuses to do business with children of wealthy parents, citing her belief that: “[E]ntrepreneurs from a privileged background don’t have the need to have their business succeed, and that can make all the difference when their back is against the wall.”

That may not be true for all rich children, but it certainly rings true in the case of 40 year-old Robert Wilcox.

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Canadian savings plans

 If you’ve ever dreamed of winning a fortune through the lottery or inheriting millions through some rich deceased relative, then you’ll probably find this story interesting:

Marlena and Victoria Laboz are the daughters of the now deceased New York real estate magnate Maurice Laboz. They are both set to inherit $24 million dollars (out of a $37 million dollar fortune) in the wake of their father’s death in 2015, but only if they follow the strict rules and conditions set out in his Last Will and Testament. This isn’t just another story of some young kids who squandered their fortune, but an interesting case study of how those who are deceased can still affect the lives of their loved ones from beyond the grave.

Both Marlena (age 21) and her sister, Victoria (age 17), have a laundry list of rules to follow if they want to see a penny of their late father’s money before the age of 35. They are set to receive $10 million by the age of 35 but that money could roll in earlier, IF they follow these rules:

1) Both daughters receive $500,000 upon marriage prior to the age of 35 IF their husbands agree to sign a prenuptial agreement.

2) Each daughter receives another $750,000 if she a) graduates from an accredited university, and b) writes a 100-word essay on what she plans to do with that cash (the trustees appointed by her father are supposed to voice their approval before releasing those funds).

3) If gainfully employed by the year 2020, the two siblings are each set to receive three times their annual income (as listed on their tax returns).

4) They earn the same amount if they stay at home, to be caregivers to their mother.

5) If one (or both) sibling chooses not to work (because neither of them will have to) AND they have children, they will continue to receive 3% of the value of their trust.

The remainder of Laboz’s estate and assets will be given to charitable organizations.

Unsurprisingly, Marlena and Victoria are unhappy with this situation, and as of August 2015, they brought the matter to court to contest the Will. Joining the sisters is their mother, who was cut out of Laboz’s Will prior to his death (Laboz was in the midst of divorcing his wife when he died). It’s unclear how much money she is seeking from her late ex-husband’s estate.

On the one hand, a Testator has the right to lay down the rules of how he or she wants his money allocated, but on the other hand, should the pair have to jump through a series of hoops in order to effectively claim their father’s legacy?