Stapleton Elder Law

Country Singer Estate Battle Pits Son Against Stepmother

A sad coda to the life of a legendary country music icon, which began the day after Ray Price passed away.

After a trial court appointed a receiver to take possession of the property of Noble Ray Price, Price's widow Janie filed an interlocutory appeal alleging that the trial court made a mistake in doing so, reports The Texas Lawyer, “In the Estate of Noble Ray Price.”

Price, one of country music's most beloved singers, died at home on December 13, 2013 at the age of 87.  He had been hospitalized in Texas and had been fighting a battle against pancreatic cancer for about a year. The day before he entered hospice care, Price left a message to his fans: "I am at peace. I love Jesus. I'm going to be just fine. Don't worry about me. I'll see you again one day."

Citing Chapter 64 of the Texas Civil Practice and Remedies Code, the court explained that for a receiver to be appointed, the party seeking appointment must have a probable interest in or right to the property or fund. In addition, the property or fund must be in danger of being lost, removed or materially injured.

The review of the trial court's determination is for an abuse of discretion.

The court of civil appeals examined the pleadings and testimony of the case. It showed that Price's son Cliff was contesting the validity of a will that Price signed in the hospital right before his death. Cliff claimed that Ray lacked the capacity to execute the new will.

The appellate court found that the trial court did not abuse its discretion in determining that Cliff had a probable interest or right to the property.

In addition, the court of civil appeals stated in light of Price's widow's testimony that she felt Price's property belonged to her and not to the estate, and she had accepted payments on Price's behalf and written herself a check from his record company, the trial court didn’t err in holding the property was in danger of being lost, removed or materially injured.

Accordingly, the court of civil appeals affirmed the decision of the Texas trial court.

Ray Price had a long, successful career—65 years—and his music reflects influences from many different genres, from western to honky-tonk and some of his biggest hits resulted from a foray into lush sounds.

Reference: Texas Lawyer (March 1, 2017) “In the Estate of Noble Ray Price”

To ensure you estate plan reflects your intentions and wishes, please visit our website.

 

A Rose is a Rose–But One Power of Attorney is not The Same as Another

It's best to know the difference between different types of Powers of Attorney before you need one, or more, of these important documents.

It may be more fun to chat about exotic vacation getaways, but you will be better prepared for eventual situations if you have a basic understanding of the different types of estate planning documents. According to NJ 101.5, in “Understanding power of attorney documents,” this will also help make sure that your own wishes are carried out if you are not able to speak for yourself.

A power of attorney (POA) is a legal document that’s used to give a trusted friend or family member (known as the attorney-in-fact or agent) the authority to act on your behalf on financial or legal matters. You can specify the scope of powers, which can be very broad or limited.

Traditionally, you’d typically use a POA if you need help with a single task, like requiring someone to represent you in a legal matter that you can’t attend to yourself. When that’s done, the agent’s powers automatically end. In addition, your agent can’t act on your behalf if you become incapacitated even though you’re not able to act for yourself.

Although there may be instances where this arrangement is preferred, a durable power of attorney (DPOA) is the right document to use when the agent’s powers need to endure while you are incapacitated. As an example, a senior might be concerned about his or her capacity diminishing over the years, so they designate a family member as agent in a DPOA to help them with day-to-day finances.

You can revoke a POA or DPOA at any time, provided you’re not incapacitated. If you are, the DPOA is still valid, and you no longer have capacity to revoke it. In all situations, your agent’s power stops upon your death.

A DPOA can give you and your family peace of mind that you have a trusted individual selected to handle your affairs in an emergency. This also saves time and the expense of a legal proceeding to get someone appointed to take care of your affairs.

Unless you specify otherwise, your agent’s powers are effective immediately upon execution of the document, although you are still able to manage your own affairs. In some circumstances, it is preferable for the agent’s powers to be predicated on a certain event, which is called a “springing” power of attorney. You might use a springing power if the agent is a non-spouse.

Do not be surprised if a bank or other financial institution initially rejects the power of attorney. Unfortunately, this is a fairly common occurrence and you may need the help of an estate planning attorney to navigate this successfully.

Reference: NJ 101.5 (August 22, 2016) “Understanding power of attorney documents”

To learn more about appointing a power of attorney and the powers it provides your agent, please visit our website. 

A Rose is a Rose–But One Power of Attorney is not The Same as Another

It's best to know the difference between different types of Powers of Attorney before you need one, or more, of these important documents.

It may be more fun to chat about exotic vacation getaways, but you will be better prepared for eventual situations if you have a basic understanding of the different types of estate planning documents. According to NJ 101.5, in “Understanding power of attorney documents,” this will also help make sure that your own wishes are carried out if you are not able to speak for yourself.

A power of attorney (POA) is a legal document that’s used to give a trusted friend or family member (known as the attorney-in-fact or agent) the authority to act on your behalf on financial or legal matters. You can specify the scope of powers, which can be very broad or limited.

Traditionally, you’d typically use a POA if you need help with a single task, like requiring someone to represent you in a legal matter that you can’t attend to yourself. When that’s done, the agent’s powers automatically end. In addition, your agent can’t act on your behalf if you become incapacitated even though you’re not able to act for yourself.

Although there may be instances where this arrangement is preferred, a durable power of attorney (DPOA) is the right document to use when the agent’s powers need to endure while you are incapacitated. As an example, a senior might be concerned about his or her capacity diminishing over the years, so they designate a family member as agent in a DPOA to help them with day-to-day finances.

You can revoke a POA or DPOA at any time, provided you’re not incapacitated. If you are, the DPOA is still valid, and you no longer have capacity to revoke it. In all situations, your agent’s power stops upon your death.

A DPOA can give you and your family peace of mind that you have a trusted individual selected to handle your affairs in an emergency. This also saves time and the expense of a legal proceeding to get someone appointed to take care of your affairs.

Unless you specify otherwise, your agent’s powers are effective immediately upon execution of the document, although you are still able to manage your own affairs. In some circumstances, it is preferable for the agent’s powers to be predicated on a certain event, which is called a “springing” power of attorney. You might use a springing power if the agent is a non-spouse.

Do not be surprised if a bank or other financial institution initially rejects the power of attorney. Unfortunately, this is a fairly common occurrence and you may need the help of an estate planning attorney to navigate this successfully.

Reference: NJ 101.5 (August 22, 2016) “Understanding power of attorney documents”

To learn more about appointing a power of attorney and the powers it provides your agent, please visit our website. 

Mental Capacity at the Heart of Sumner Redstone's Billion-Dollar Empire

The stakes are high for the ex-girlfriend, shareholders and family members in this larger-than-life battle over whether or not the man who was the ultimate dealmaker is capable of making his own decisions.

Whether or not Sumner Redstone is mentally competent is headed to a trial, as competition for control of his $3 billion holdings in Viacom Inc. and CBS Corp. heats up. According to Bloomberg's "Redstone Faces Competency Trial amid Fight over Media Empire," his ex-girlfriend Manuela Herzer claims that Redstone is no longer mentally competent and is being manipulated by others.

A Los Angeles probate judge asked whether it was wise for the 92-year-old to name Viacom CEO Phillipe Dauman as his agent in charge of his health care decisions rather than a family member. Judge David Cowan, who will decide the case without a jury, said he isn't confident things "are all patched up" between Sumner and his daughter Shari Redstone.

At least one shareholder has sued the boards of Viacom and CBS, accusing them of wasting millions of dollars paying Redstone when he was unfit to take an active role in the businesses. He stepped down as chairman of both companies only last month, days after he was examined by a psychiatrist designated by Herzer as part of her court case.

The control of Redstone's 80% voting stakes in Viacom and CBS will pass to a family trust if he becomes incapacitated or dies. Shari Redstone and Dauman are two of the seven members of that trust. Redstone's Viacom and CBS holdings are exempt from the lawsuit, as the family trust that will take control was established long ago.

While Redstone's lawyers accuse Herzer of being interested only in regaining the inheritance from Redstone's prior will—a hefty $50 million plus a home valued at $20 million, Herzer says that he was not mentally competent when she was removed from his will, evicted from the mansion and removed from his advance healthcare directive. A geriatric psychiatrist's report, sealed from public view, recently provided information that led the judge to his decision that the question of Redstone's competency is not yet resolved.

Reference: Bloomberg (February 29, 2016) "Redstone Faces Competency Trial Amid Fight Over Media Empire"

To learn more about capacity issues and estate planning, please visit our website.  

Candid Discussions on Memory Loss with Your Physician Are A Better Way to Go

Early diagnosis can improve quality of life if it is dementia, and if it is not, your doctor can discuss other reasons for short-term memory loss and treatment options.

The older the patients, the less likely they are to discuss a memory problem with their doctor during an office visit, according to a review of federal government data from more than 10,000 people. This review, published in Preventing Chronic Disease, also revealed that in 2011 as few as 1 in 4 adults age 45 and older discussed memory problems with their physician during routine checkups. The journal article and its findings were reported in US News & World Report's "Too Few Older Adults Tell Doctors About Memory Loss: Study."

Routine checkups can be a missed opportunity for assessing and discussing memory problems for the majority of older adults. Experts say the stigma of memory loss and dementia may keep some from discussing these issues with their doctors.

Many think that as long as we don't mention it, memory loss might just be normal aging. However, talking about memory troubles doesn't necessarily mean you have dementia. It might be another highly treatable condition, like depression. But if it is related to dementia, recognizing it early is crucial.

Patients can meet with family members and an experienced elder law attorney to get advice on making individualized decisions for their care, rather than relying on last-minute decisions.

Memory loss and the possibility of the early onset of dementia is a difficult discussion for both the physician and patient, particularly in light of the long-term implications. However, early diagnosis of dementia is important, as even mild memory loss from early Alzheimer's disease may be improved with medication (although these prescriptions don't stop the disease's progression).

Having a discussion with your physician about memory loss and whether the lapses are occasional or increasing in frequency will allow your condition to be assessed. If specialized testing is done, then you and your doctor will know if your situation requires treatment or special planning. This is just like any other condition that requires diagnosis and, if indicated, treatment.

Reference: US News & World Report (January 28, 2016) "Too Few Older Adults Tell Doctors about Memory Loss: Study"

Please visit our website to learn how you can make individual decisions now for your care.