Though there is no iron clad measure to ensure your heirs do not fight over your estate, you can definitely minimize the chances thorough estate planning with an experienced attorney. We caution clients to take any precautionary measures possible to avoid estate litigation, as this process is costly and can take years. Perhaps the epitome of never-ending and expensive estate battles is that over Anna Nicole Smith’s late husband’s estate.
Anna Nicole Smith was married to J. Howard Marshall for 14 months before he passed away in 1994, leaving an estate estimated to be worth between $500 million and $1 billion. Smith never saw a penny of her husband’s estate because Marshall’s son, E. Pierce Marshall, argued that his father made no mention of her in his will and never set up a trust her. Both Smith and E. Pierce Marshall have since passed, but the estate battle wages on.
In a new development, E. Pierce Marshall’s estate may have to pay up to $44 million to Smith’s daughter. A federal judge agreed with an argument that the son’s estate should be penalized for allegedly lying and cheating in court during the decade long battle over his oil tycoon father’s fortune. Smith’s lawyers have also alleged that E. Pierce Marshall and his attorney deliberately depleted his father’s accounts to deny Smith any money, and backdated, altered, and destroyed documents. The son may have also committed perjury, falsified notary statements, and presented documents to his father under false pretenses.
The court noted that Marshall’s actions were specifically designed to ensure all of his father’s fortune remained in his own hands, away from his Anna Nicole Smith. Lawyers for the estate of Anna Nicole Smith, to which her 7-year-old daughter is the sole heiress, have demanded sanctions be set to compensate for this tortious conduct.
The sanctions could amount to just over $44 million, but they will not be punitive. They will be civil damages, based on real losses caused by Marshall’s misconduct. But even if the sanctions are awarded, Smith’s daughter may not benefit at all from them because the money could entirely go to massive outstanding legal bills.
Make sure your loved ones are accounted for in your estate plan to avoid infinite estate litigation. The Astill Law Office has provided high quality legal services for over 30 years. We specialize in wills, trusts, estate planning, and asset protection. If you have any questions about creating a Trust, Will, or estate planning in general, contact The Astill Law Office at 801-438-8698