Lessons from Larry King’s Estate Battle

As an estate planning attorney in White Plains, NY, I often find that celebrity estate disputes offer valuable insights for clients navigating complex estate planning issues. The recent legal battle involving the late television host Larry King’s estate is one such example. This high-profile case highlights the importance of proper estate planning and the potential complications that can arise when plans are not clearly documented or updated.

According to Radar Online’s article, “Late TV Host Larry King’s Secret Bank Account Exposed In $100 Million Battle With His Widow,” Larry King’s widow, Shawn, has sued the firm Blouin & Company, accusing them of mishandling funds and conspiring with Larry’s son, Larry King Jr., to exclude her from the estate. The conflict began shortly after Larry’s passing when his son presented a handwritten amendment to the court, signed by Larry, leaving all assets to his five children. This amendment, which surfaced weeks after Larry’s death, was contested by Shawn, who argued that Larry lacked the mental capacity to sign the document. Despite reaching a settlement, Shawn has now filed a $100 million lawsuit against Blouin & Company for breach of fiduciary duty and fraud.

The Larry King estate battle emphasizes several key aspects of estate planning. As an experienced estate planning attorney, I advise clients to regularly update their estate plans, especially when major life events occur, such as divorces or changes in family dynamics. In Larry’s case, he filed for divorce from Shawn months before his passing, but the divorce was not finalized. This uncertainty can lead to disputes and legal battles, underscoring the importance of having a clear and updated estate plan.

Additionally, Shawn’s allegations against Blouin & Company raise concerns about fiduciary responsibilities. She claims that the firm transferred funds without her permission and shared confidential information with Larry King Jr. An estate planning attorney can help clients choose trustworthy fiduciaries and provide oversight to protect their interests.

Furthermore, this case illustrates how assets like secret bank accounts can complicate estate administration. As an estate planning attorney in White Plains, NY, I work closely with clients to ensure all assets are properly accounted for and included in their estate plans. This helps prevent disputes and ensures that assets are distributed according to their wishes.

The Larry King case is a reminder that a comprehensive estate plan, regularly reviewed and updated, is essential. Whether you are facing a divorce, managing a large estate, or simply want to ensure your loved ones are cared for, consulting with an estate planning attorney can help you create a plan that protects your interests and minimizes the risk of disputes.

At Parker Law Firm, we are experienced in estate planning services tailored to your unique situation. If you need an estate planning attorney in White Plains, NY, contact us today for a consultation. Let us help you safeguard your legacy and provide peace of mind for your family.

Reference: Radar Online (Dec. 22, 2022) “Late TV Host Larry King’s Secret Bank Account Exposed In $100 Million Battle With His Widow”