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You would have to be on another planet to have not heard of the hit Netflix documentary Tiger King that came out in the spring of 2020. I did not watch it, but I heard a lot of hype about it as millions of Americans tuned in. Why was it so popular? You got me. The only reason I can come up with for its viewer popularity is the outlandish stories of big cats (tigers, lions, etc.), murder-for-hire, polygamy, and a missing millionaire.
Recently, I started to watch the show myself. Notice I said started to watch. That’s right – I only started to watch it to see what all the hype was about. Now before you become tempted to watch it, be forewarned that I would rate it “R” and this isn’t the type of show that I would recommend watching. WHY? Because it is akin to a bad soap opera. The only redeeming quality that I could find is that the series actually does allow for some lessons of what not to do in estate planning. So, in the name of education, let’s look at the real-life examples of estate planning gone wrong, as we wade through the Tiger King characters and see what disasters could have been avoided with proper planning.
While the documentary’s dastardly, twisted plot is far too complicated to fully summarize, it focuses primarily on the bitter rivalry between Joe Exotic and Carole Baskin, who are both owners and breeders of big cats. Joe, the self-professed “Tiger King,” whose real name is Joseph Maldonado-Passage, runs a roadside zoo in Oklahoma filled with more than a hundred tigers, lions, and other assorted animals.
Carole is the owner of Big Cat Rescue, a Florida-based sanctuary for big cats rescued from captivity. As an avid animal rights activist, Carole goes on a public crusade against Joe, seeking to have his zoo shut down, claiming that he exploits, abuses, and kills the animals under his care. In retaliation, Joe launches an extensive media campaign of his own against Carole, in which he accuses her of murdering her late husband, millionaire Don Lewis, and feeding his remains to her tigers. The feud between Joe and Carole goes on for decades, and it ultimately peaks after Carole wins a million-dollar trademark infringement lawsuit against Joe.
The legal fees and impending judgment from the lawsuit nearly bankrupt Joe, eventually pushing him to hire someone to kill Carole. However, instead of killing Carole, the individual Joe hires goes to the FBI and informs them of Joe’s murderous plot. Joe is ultimately arrested for hiring a hitman to kill Carole, along with multiple animal abuse charges, and he’s sentenced to 22 years in federal prison.
Although the clash between Joe and Carole takes center stage and exposes key estate planning concerns related to business ownership and asset protection, the most egregious planning errors are made by Carol’s late husband Don Lewis. In fact, the full extent of duplicity and damage related to these mistakes isn’t even uncovered by the documentary, and have only recently come to light following renewed public interest in the case sparked by the show. You gotta love a cold case mystery!
So let’s look first at the tragic results that Don’s poor planning yields for him and his loved ones.
The Missing Millionaire
Don, a fellow big-cat enthusiast who helped Baskin start Big Cat Rescue, mysteriously disappeared in 1997 and hasn’t been seen since. After Carole had Don declared legally dead in 2002, Carole produced a copy of Don’s Will that named her as Executor and left nearly all of Don’s entire estate to Carol. Yes, that’s right; an estimated $6 million dollars. Don’s daughters from a previous marriage were left with just 10% of his assets. However, the planning documents Carole produced were deemed suspicious by multiple people who were close to Don for a number of reasons. Don’s daughters and his first wife claim that Don and Carole were having serious marital problems before he disappeared, and that Don was planning to divorce Carole. As evidence of this, we learn that Don sought a restraining order against Carole just two months before he vanished, in which he alleges Carole threatened to kill him. A judge denied the restraining order, saying there was “no immediate threat of violence.”
Don’s daughters also claim that around the time the restraining order was filed, their father created a Will that left the vast majority of his estate to them, and he did so in order to minimize any claims Carole might have to his property should he pass away. Additionally, Don’s administrative assistant, Anne McQueen, said that before he disappeared, Don gave her an envelope containing his new Will and a power of attorney document, in which he named Anne as his executor and power of attorney agent, not Carole. Anne said Don told her to take the envelope to the police if anything should happen to him. According to Anne, the envelope with Don’s planning documents was kept in a lock box in Don’s office, but she claims Carole broke into the office and took the documents 10 days after he disappeared. At the time, Anne was being interviewed by detectives when she received a call from the alarm company, letting her know that the alarm in Don’s office had been triggered.
When police arrived, they found Carole removing files from the trailer that served as Don’s office. She was being helped by her father and Don’s handyman. The handyman had cut the locks, and according to Anne, this was because Carole didn’t have a key. Later that day, Carole had the entire trailer hauled to the grounds of the big cat sanctuary. Anne told detectives that Carole removed the trailer and its contents in order to destroy his planning documents stored in the lockbox. From there, Anne believes Carole forged the will and power of attorney she ultimately presented to the court.
Carole vehemently denied all of these claims. In an interview with the Tampa Bay Times, Carole said she moved the office trailer because her father claimed he saw Anne removing files from it a day earlier. She also insisted she never threatened Don’s life, and that he disappeared on one of his many trips to Costa Rica. She further claims that Don sought to disinherit his children in his Will, and it was only at Carole’s suggestion that Don left them anything at all.
Although law enforcement investigated Don’s disappearance from Tampa to Costa Rica, Hillsborough County Sheriff Chad Chronister said the investigation failed to uncover any physical evidence, only a conflicting series of stories and dead ends. In light of this, Don’s estate passed through probate in 2002, and his assets were distributed according to the terms of the will Carole presented, leaving Carole with the bulk of his $6-million estate, and leaving Don’s daughters with just a small fraction of his assets.
Just goes to show you that truth is stranger than fiction. While there’s always more to the story, let’s first look at the planning mistakes Don made and how they could have been easily prevented.
Lesson 1: Always work with an experienced estate planning lawyer when creating or updating your planning documents, especially if you have a blended family.
If Don’s children and assistant are correct and Don actually created a will that left his daughters the bulk of his estate and disinherited Carole, it appears he did so without the assistance of an attorney. Big Mistake Number One. We all know that there are numerous do-it-yourself (DIY) estate planning websites that allow you to create various planning documents within a matter of minutes for relatively little expense. Well, when you do a DIY estate plan instead of using the services of a trusted advisor to guide you and your family, the documents can easily disappear or be changed. In the end—and when it’s too late to do anything about it, taking the DIY route can cost your family far more than not creating any plan at all.
Even people who think their particular planning situation is simple, that turns out to almost never be the case. As we know, there are a number of complications inherent to DIY estate plans that can cause them to be ruled invalid by a court, while also creating unnecessary conflict and expense for the very people you are trying to protect with your plan.
And while it’s always a good idea to have a lawyer help you create your planning documents, this is exponentially true when you have a blended family like Don’s. Blended families from a second (or more) marriage, with children from a prior marriage, create an inherent risk of dispute because of the conflicting interests. The more wealth there is, the greater the conflict becomes. The risk for conflict is significantly increased if you are seeking to disinherit or favor one part of your family over another, as Don was claimed to have done with Carole. In fact, in Florida, the law prevents one spouse from completely disinheriting the other in their estate plan, so unless Don was aware of this fact when he cut Carole out of his will, she would still be entitled to one-third of his assets upon his death, no matter what his will stipulated. Remember that each state’s laws are different. That is why having an attorney licensed in the state where you reside is so important. It is near impossible when you create your own plan, even with the help of a DIY service, that you can consider and plan ahead to avoid all the potential legal and family conflicts that could arise. As an attorney, we are not only specially trained to predict and prevent such conflicts, but our unique planning process can actually help create connections among your loved ones and bring your family closer together. In fact, this is our special sauce.
Finally, as we saw with Don, if your loved ones can’t find your planning documents—whether that is because they were misplaced or stolen—it’s as if they never existed in the first place. Yet, if Don had enlisted the support of an experienced planning professional like us, his documents would have been safeguarded from being lost, stolen, or destroyed. When we create or update a plan for our clients, it’s standard practice to not only keep current copies of your estate plan in our office, but to provide those loved ones with the latest updated copies. And we make sure that you discard older versions laying around.
If you’ve yet to create a plan, have DIY documents you aren’t sure about, or have a plan created with another lawyer’s help that hasn’t been reviewed in more than a year, meet with us. We can ensure that your plan will remain safe and work exactly as you intended if something should happen to you.
In two weeks, we’ll continue with part two in this series on estate planning lessons you can learn from the Netflix documentary Tiger King.
This article is a service of Cris Carter Law. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session,™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this session valued between $500 to $750, at no charge.
What we have learned over the past 3 weeks is that the COVID-19 pandemic means nothing is normal. There is NO business as usual. Finally, state after state has implemented a “shelter-in-place” order in an attempt to limit the spread of the disease; still every day we come across people and populations who are not following the mandate.
Once you have attended to your needs, the needs of your children and your parents’ immediate needs, it will be time to consider more long term precautions.
In this time of stress and chaos, many people continue to be resistant to talking about estate planning. It may feel too pessimistic to plan for the worst in the midst of a scary situation. However, that’s exactly why it’s the most important time to do so. Plus, since hopefully, you are staying inside, you now have the time to get these tasks taken care of.
Here are actions you can, and should, take to ensure you and your family are protected both legally and financially.
Update Your Health Care Documents
Above all, you first need to ensure that both you and your parents have advance care directives. This will be an invaluable reference point for those who are assisting you, whether they be friends, family, or medical professionals. This directive should include instructions on your preferred methods of care and the contact information for each of your doctors.
Review and Update Who Speaks for You When You are Unable to Speak for Yourself
You must also clearly state who will be in charge of handling your affairs in the event of your death or incapacity. Even if you have done this already, I urge you to take out any existing documents now and review them. Have your circumstances changed? Do you have additions to make? Encourage your parents to do the same thing, and to communicate with you about what their directives say.
Here’s an article to read, and share with your parents (AND ADULT KIDS, if you have them) on the 3 parts of a Health Care Directive, and the 5 things you want to look for in your Health Care Directive right now, to ensure it’s up to date for COVID-19.
If you are unsure whether your Health Care Directive is in ship-shape, call us, as your Personal Family Lawyer®, to take an expert look at them.
Create a “Personal Resource Map”—an Inventory of Everything That Matters
You might think that only the very rich need to worry about making specific plans for their assets. But not so fast. Do you have investments or a retirement account? Physical things like jewelry, musical instruments, or furniture? What about crypto? Or even social media accounts? In the event of your incapacity or death, your family members won’t know where to look for what you have, or how to access it, unless you’ve planned for that ahead of time.
Somewhere between 49 and 80 billion dollars are currently unclaimed, or unable to be claimed, by family members of people who have passed away. This is money that individuals may have forgotten they had, or that they made no provisions to pass on to their family after they died. That’s why it’s extra important that you create a “personal resource map” to tell your loved ones where everything is and how they should move forward according to your wishes.
To help you make your own personal resource map, and to help your parents make theirs, you can go to http://www.personalresourcemap.com/ or call us direct and we’ll walk you through it.
Wisely Maximize Your Access To and Use of Credit
Financial experts often recommend a rainy day savings account, and it seems that the rainy day has come. Whether or not you have sizable savings, you should also maximize your access to credit. Getting approved for a higher credit line is good to do sooner rather than later. If you find yourself in a position where you need money quickly (to afford a medical expense, for instance), you don’t want to be scrambling to pay the bill.
Some people might balk at the idea of applying for more personal credit, particularly people who are afraid of debt. Think of it, however, as a worst-case precaution. You can get approved for credit even if you have a decent amount of savings—just as a backup. If you need reassurance, or if you need some help encouraging your parents to get approved for a higher credit line, you can contact us to walk you through your options.
Remember that it’s never an inappropriate time to plan for the future. It’s also always a good time to ask for legal and financial help. #WereAllInThisTogether and we’re here to support you, virtually now, as well, even when nothing is normal. We can take care of you, and your family, fully online. Call us, we’re here.
This article is a service of Cris Carter Law, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session™, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $500 session at no charge. Or, schedule online here.
“It is precisely because we resist the darkness in ourselves that we miss the depths of the loveliness, beauty, brilliance, creativity, and joy that lie at our core.” ― Thomas Moore
April is usually a sign that spring is here. A time of emergence and growth. Yet we find ourselves confined in our homes. Unable to see the ones we love. Separated by something we cannot see. Something we cannot touch. Feeling numb, hidden, unseen.
April also symbolizes the process of coming into view. Becoming. What was hidden is exposed after being concealed. The process of coming into being. April provides the gust that spring needs to bloom and flourish.
Perhaps what we are living through, the stillness, is giving us the opportunity to sit, listen, and see. Listen to what our soul has been trying to tell us. Look and see the things that we have buried behind the busyness of life. It is a time for us to look at the things in our life that we have been putting on hold.
Whatever you do, don’t assume all is lost. We have heard many times that it is never too early to plan for your future. However, the sooner you can have an estate plan in place, the better it is for you and your family. If there is one thing that we have learned from the Corona Virus is that nothing is certain. It may never be too early to plan, but it can be too late.
If you do not have ANY estate plan at all before something happens to you, whether that be a serious illness or death, your family will end up in court and the court will choose the people that will handle tying up all the loose ends. How your estate gets distributed will be based upon the general laws in effect. Depending on your family structure, it may or may not be what you would have chosen for your loved ones. If you only have a Last Will and Testament and (not a Trust), your estate will also wind its’ way through the court system.
Going to court is expensive and the money pair for court and lawyers comes straight out of the pockets of those loved ones left behind. And of course, the time and energy it takes for your loved ones to deal with the court process, may be way more stress than they can manage at a delicate time. Only an estate plan with a trust will keep your loved ones out of court, confusion, and conflict.
During this pandemic, we want to make sure you and your family are taken care of. We have gone to virtual meetings to ensure you still have access to our services whenever you need them. We want to help you make informed and empowered decisions and feel protected in times of need. It is all about making sure your plan works for you and the people you love.
At Cris Carter Law, we have gone virtual to protect you and your loved ones. Just like the promise of growth and bounty that comes after planting seeds in the spring, planning your legacy now, promises protection for your loved ones when you are gone.
It isn’t comfortable or easy to talk about the necessity of planning. Yet what planning has to offer your loved ones is far deeper and greater than any discomfort.
At Cris Carter Law, we are here for you. We want to know you. We want to know what matters to you. Together we spend time and focus on what is most important to you and your family. We will guide you as we create the estate plan that aligns with your objectives and will be there for your family when they need it the most. Call us today to set up your virtual appointment.
Our hope is that you will look for the light in the darkness. The light that will teach us a new way to care. A new way to laugh. A new way to love. A new way to live. The darkness prepares us for what is to come. Together, we hope for a new tomorrow.
“During the dark night, there is no choice but to surrender control, give in to unknowing, and stop and listen to whatever signals of wisdom might come along. It’s a time of enforced retreat and perhaps unwilling withdrawal. The dark night is more than a learning experience; it’s a profound initiation into a realm that nothing in the culture, so preoccupied with external concerns and material success, prepares you for.” ― Thomas Moore
This article is a service of Cris Carter Law, the attorney with a heart. We don’t just draft documents; we guide you to make informed and empowered decisions about life and death, for yourself and the people you love so that your estate plan works when it needs to. Call today and schedule a Family Wealth Planning Session.