It is a story we see all too often with celebrity estates: children fighting for their inheritances with claims of undue influence. So is the case for the great late blues musician, B.B. King. While many might not know this, B.B. King had fifteen children from multiple women. Despite the number, King sought to make sure that all of his children were properly taken care of by setting up a separate mult-imillion education fund meant to support all of his children’s educational pursuits.

B.B. King recently made headlines following his death when a few of his children claimed his longtime business manager was unduly influencing King and abusing her power of attorney rights while their father was incapacitated. LaVerne Toney had been King’s business manager for decades and was appointed executor of King’s estate when King passed. This means that Toney is in charge to administer the estate and distribute funds to the heirs accordingly. King’s children vehemently opposed this appointment and claimed that Toney embezzled money from their father while he was alive and incapacitated, close to $1 million dollars. A judge heard both sides of the story, and ultimately decided that Toney was not an unfit or untrustworthy executor. The children vowed to continue their fight until Toney was replaced as executor. While such claims are common for older celebrities with financial managers like Toney, these disputes can also be common for any individual.

When creating your estate plan, it is imperative to select an executor and trustee that not only you trust, but that your children or your designated beneficiaries might also be able to trust. While there is no guarantee that everyone will always get along, especially when it comes to money, choosing an individual whom is respected will protect your estate. The issues arise when the heirs are convinced they are being lied to or cheated out of what they are entitled to. Usually such mistrust is at the core of any lawsuits being filed by beneficiaries against an estate.

If you have already created your estate plan, and want to update named executors or trustees, feel free to contact us at (818) 956-9200 to schedule a complimentary consultation and review of your current estate plan. If you do not have already have an estate plan in place, don’t hold off any longer: call us and schedule your complimentary consultation today! We look forward to helping you and your family.

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