Robin Williams passed away in early August of 2014, but he already had a will in place, which he signed on the last day of January 2011. He also had a prenuptial agreement with his wife, which was set up before the two got married. The details of his estate plan have now been, to some degree, revealed to the public.

It appears that the estate is going to be split between four main parties: his wife and his three children.

The details for his wife are less clear, as he simply asked that the things he had agreed upon in the prenuptial agreement be carried out. This means that his wife is going to get a portion of his wealth and assets.

For his children, a fairly strict plan based on age was established. The children will all get part of the estate, but they will each only get a third of the money when they reach the age of 21. At age 25, they will get half of what is left. At age 30, they will each get the rest of what they have inherited.

Some of the exact dates do not matter so much now, since his children have passed some of the thresholds. One of his sons is 31, and thereby entitled to the full share, and the other is 22, and therefore, only able to get the first third. His daughter is 25, so she will get the first third and half of what remains.

While an estate plan does not necessarily have to be complicated in Texas or any other state, it is important to have one in place in the event of an unexpected death.

Source: People, “Robin Williams Left Fortune to His Children and Wife” Nov. 13, 2014

States like Texas have more than their share of animals, both domesticated and commercial. But like every other state, there are many domesticated animals in need of care and loving homes. If you are one of those animal-loving people who care deeply about animals, you are probably well aware of the need for volunteers and funds to care for animals in need. It is never-ending. Have you ever thought about putting a charitable contribution in your will to the ASPCA or making the ASPCA a beneficiary of your estate?

This is a great option for those who have accumulated a healthy estate during their lifetime and don’t have heirs, as well as for those who do have heirs. For those who do have heirs, you can leave a one-time sum to the charity or a percentage of your assets.

Even if you don’t have a large estate to plan distribution of, most people have a retirement plan, insurance policy, 401(k), 401(b) or an IRA of some kind. You can designate the ASPCA as a beneficiary. This is a great way to continue giving to something you cared deeply about in your lifetime. You do not have to give the full amount if you have other heirs you want to designate funds to. You can designate a percentage of the funds, or you can designate the ASPCA as the contingent beneficiary in case your primary beneficiary becomes deceased before you.

There are additional benefits to giving to a charity at your death. The death benefits from your retirement plan are usually taxable to an heir but not to charities. So this is tax-free giving. Also, because it is contingent on your death, while you are alive, your retirement plan is still accessible to you to do with as you please.

You might also consider naming the ASPCA as a beneficiary for investment accounts or bank accounts. This is a great way of sharing your love for our four-legged friends!

Source: ASPC.org, “Beneficiary Designations: A Gift to the ASPCA that Costs Nothing Now” Nov. 13, 2014

For years, John Wayne ruled the windswept west of the silver screen, earning the nickname “Duke” from coworkers and fans. Even today, mention of the Duke still brings the rugged visage and slow drawl of the cowboy actor to mind for many in Texas and across the country. The Duke’s brand isn’t binding, though, since golden-age actors weren’t in the habit of trademarking every phrase that came their way.

Today, John Wayne’s heirs are fighting to keep the moniker in the family, but they are running up against opposition from Duke University. According to reports, Wayne Enterprises has ventured into legal skirmishes with the university since 2005. The latest court-related battle had to do with the Wayne’s heirs desire to use the Duke moniker to market alcoholic beverages such as bourbon.

The university’s argument against Wayne Enterprises using the name to market products is that such activity could dilute or harm the school’s brand. According to reports, Wayne Enterprises filed a suit in the matter in another state. However, the lawsuit was dismissed by the judge, who said the court didn’t have jurisdiction.

Estate issues don’t always revolve around physical assets or monetary concerns, as this case shows. And celebrities aren’t the only people who may leave behind intellectual property or other non-physical assets. Artists, writers, public figures and inventors are just some of the types of individuals who may leave behind difficult-to-classify valuables. Heirs who believe they are entitled to trademarks, royalties or control of intellectual property may have to seek legal protection over those rights, even in cases when the property or rights are included in a will or other document.

Source: Alvarado Star, “John Wayne’s heirs lose ‘Duke’ legal brawl” Oct. 01, 2014

In previous blogs, we’ve covered the importance of estate planning and the reasons Texas residents should consider creating a last will and testament, even early in life. Because individuals do die without wills, the Texas Estate Code details procedures for heirship proceedings.

Heirship proceedings are authorized in a number of circumstances. First, if a person dies without an estate plan or will, then heirship can help family members work through the court to administer the estate. The proceedings may also be allowed if some property was left out of a will, no disposition was previously made on the estate in Texas, or the trustee cannot fully execute an estate without determining who the heirs of a decedent may be.

Heirship action can begin any time after a decedent has passed away and can be instituted by family members, trustees, creditors or guardian of the estate. During the heirship process, legal action is taken to seek out and protect all possible heirs of the estate, which means the court will appoint a separate attorney to represent the interests of any unknown heirs. It’s important for family members to understand the full context of heirship proceedings, because it may come as a surprise to learn that other individuals could share in an inheritance.

The best way to avoid surprises during the estate administration process is to work prior to a death to develop wills and other estate documents. In the absence of such planning, however, experienced legal assistance can offer family members some peace of mind during heirship proceedings. Even without a will, the Texas Estate Code offers some protection to certain types of heirs.

Source: Texas Estates Code, “Authorization and Procedures for Commencement of Proceeding to Declare Heirship” Oct. 10, 2014