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trustsandestates.corn A PRIMEDIA Publication

Trusts&Estates®The Journal Of Wealth Management For Estate Planning Professionals

By Herbert E. Nass, Esq.Admitted to practice inNew York, Connecticut,

and California,

A Century of Celebrity WillsProperty divisions of the rich and famousmirror the nation's changing mores

From Mark Twain's final days in Redding, Conn. to Marlon Branda's lasttango in Los Angeles, wills drafted by the rich and famous testify to thedramatic changes in American culture during the past 100 years. Evidence

of respect for women increased over the course of the century By century'send, estate planning for same sex partners became commonly accepted, even

expected. Meanwhile, children born out of wedlock were included in estateplans, voluntarily or otherwise. All this and more is illustrated by the wills of16 of the nation's most dearly departed celebrities.

A Well-Written WillMark Twain, 1835-1910

It was Samuel Langhorne Clemens, the Americanhumorist and novelist writing under the pen nameMark Twain, who famously remarked that reports ofhis death were "greatly exaggerated:' Twain signedhis last will and testament only a year before he actu-ally died in 1910, at the age of 75.

Thatwill provided that each cf Twain'stwo daughters,Susanand Jean,were to receive5 percent ofhis estate out-right,with the 90 percent balance to be held in trust fortheir liveswith the remainder to pass to their survivingissue.Twain's onlywife,l..izzie,had died during their mar-riage;two of his four children alsopredeceased him.

_ Well aware of the value of the copyrights in hisestate, which included such bestsellers as The Adventures of Tom Sal1Yer, Twain expressly provided in hiswill for the "control, management and disposition of my literary productions, published and unpublished,and all my literary articles and memoranda of every kind and description, and generally as to all matterswhich pertain to copyrights."

Twain, a born-and-bred Missourian who died in Connecticut Yankee territory. had a meticulouslydrafted will, putting all of his legal and literary affairs in the hands of three executors, including hisnephew Jervis Langdon and two business associates from New York City. with the request that they"confer and advise" with his daughter Clara Langdon Clemens and his designated biographer, AlbertBigelow Paine.

Power to the SonJ. P. Morgan, 1837-1913The first page of the lengthy will of bankingmogul John Pierpont Morgan included deeplyreligious language: "I commit my soul into thehands of my Saviour, in full confidence that hav-ing redeemed it and washed it in His most pre-cious blood He will present it faultless before theThrone of my Heavenly Father." Apparently, thewealthy banker who twice rescued the U.S. gov-ernment from financial ruin was also concemedabout his own salvation.

Morgan was survived by his wife of 48 years,Frances, to whom he left various bequests, includ-ing $1 million in trust and life estates in the resi-dences possessed by Morgan at his death.

Morgan's will also left a beloved wine collec-tion to his son, John Pierpont "Jack" Morgan, jr.,stating that junior should "divide such of them ashe may think proper among my sons-in-law andmy friends." John the son also inherited more than$50 million and became the head of JP. Morgan &Company upon his father's death.

Morgan's three daughters did not fare aswell. They did not partake in the wine bequestand their $3 million inheritances were to beheld in trust for them for their "natural lives."Such was the attitude toward women in theUnited States seven years before they got theright to vote.

Morgan's comprehensive and detailed will alsoincluded specific instructions regarding his burialin the family plot in Hartford, Conn., and directedwho should officiate at his funeral. That will wassigned about two months before the world travel-er died at the age of 76 in a room at The GrandHotel in Rome.

Of course, Morgan's legacy goes far beyond hispersonal estate, as this is the financier who helpedbuild U.S. Steel, General Electric and turn into apowerhouse the bank that bears his name to thisday. JP. Morgan Chase.

No EscapeHarry Houdini, 1878-1926The will executed in 1924 by the great magicianand showman Harry Houdini, who was bornErik Weisz in Budapest, Hungary, and emigratedto this country as a child, gave detailed instruc-tions regarding his final act: a funeral and burialin a crypt in a Queens, N.Y. cemetery Revealingan Oedipal complex that would have intriguedSigmund Freud, Houdini directed that he "beembalmed and buried in the same manner inwhich my beloved mother was buried upon herdeath ...and I also direct that I shall be buried inthe grave immediately alongside of that of mydear departed mother."

Keenly aware of his place in history, Houdinibequeathed his books and materials related to"spiritualism, occultism and psychical research"to The Library of Congress in Washington. To hiswife Wilhelmina Rahner Houdini, hebequeathed one-sixth of his residuary estate andall of his "household effects, furniture, trophies,silverware, ornaments, jewelry, diamonds andpersonal effects, including. . oil paintings."

BrevityIncarnateCalvin Coolidge, 1872-1933

Calvin Coolidge, President of the United Statesduring the Roaring Twenties (1923-1929), wasfamously laconic. As he once explained, "Manytimes I say only 'yes' or 'no' to people'. Even that istoo much. It winds them up for 20 minutes more."The will Coolidge executed in 1926 is the shortestever signed by a U.S. President. One sentenceonly, it simply said: "Not unmindful of my sonJohn, I give all my estate both real and personal tomy wife Grace Coolidge, in fee simple."

We can only speculate about why Coolidgeexpressly disinherited his only child. Coolidge

J.P. Morgan's

will was not

as generousto his three

daughters asto his son.They each got$3 million;

J.P. Jr. got

$50 million.

aware of her high earning potential, theimpact of taxes thereon, the standard of liv-ing to which she has become accustomedduring our marriage, and the uncertaintiesof the many years during which I hope herlife will continue in the event of mydecease."

Indeed, Bacall, now 80, is still a work-ing actress, most recently appearing withNicole Kidman in two films, Dogville(2003) and Birth (2004).

A GentlemanTo the Very LastClark Gable, 1901-1960

One of the greatest romantic leads inHollywood, Oark Gable was gone withthe wind in 1960. A ladies' man until theend, Gable provided a devise under hiswill of real estate he owned in NorthHollywood, Calif., to Josephine Dillon,one of four ex-wives.

The entire residuary estate was leftto Gable's surviving wife, KathleenG. Gable. Kathleen was appointedthe sole executor of the will-a signof the growing respect for and powerof women.

One legacy unmentioned inGable's will was his only survivingdescendant, a son named John Clark

Gable. Baby John was born aboutfour months after his father had diedfrom a heart attack at 59. Gable, him-self an only child, had lost his motherwhen he was 7 months old.

Everything GoesCole Porter, 1891-1964Cole Porter's lengthy, detailed willis as much a testament to his fasci-nating life and collections, as wellas to the sophisticated draftingtechniques of his lawyers at Paul,Weiss, Rifkind, Wharton & Garrison.

Porter's 1962 will bequeathed vari-ous objects, ranging from pianos tocigarette cases. The balance of his tan-gible personal property, including"automobiles, silver, household fur-nishings and utensils, rugs, carpets,tapestries, bric-a-brac, sculpture,

paintings, china, glassware, objects ofart, jewelry and personal effects" wasleft to a cousin, as Porter's wife of 35years had predeceased him in 1954.

Porter's will included detailedinstructions regarding his funeral in hisbirthplace of Peru, Ind., specifyingwhich biblical quotations should beread at his "private burial service to beconducted by the Pastor of the FirstBaptist Church of Peru." Porter alsodirected that there be "no service of anykind for me in New York City"

Dynasty BuilderWalt Disney, 1901-1966For the man who created the car-toon characters Mickey Mouseand Donald Duck and redefinedchildhood worldwide, America

was one giant Disneyland. WalterElias Disney built an empire withhis animator's ink and shrewd busi-ness decisions. When he died at theage of 65 in 1966, he was survivedby his one and only wife, Lillian, andtheir two daughters Diane DisneyMiller and Sharon Disney Brown.

Lillian was named as a trusteeand primary beneficiary of theDisney family trust, which received45 percent of her husband's substan-tial estate. Another 45 percent wasbequeathed to Disney's charitablefoundation. The remaining 10 per-cent was held in a trust for a groupof Disney's other relatives.

The value of Disney stock sky-rocketed in the 1960s through the1990S until, as the Disneylanders liketo say, it became "a small world afterall," with the Disney name and char-acters recognized around the globe.

Disney's success also served thearts in California, as the Disneyfoundation has contributed to thecompletion of the CaliforniaInstitute of the Arts and the com-pletion of the Frank Gehry-designed Disney Music Center in LosAngeles.

King-SizedLegacyElvis Presley, 1935-1977Elvis Aaron Presley, "The King ofRock 'n' Roll," who during his lifesold more than 500 million recordsworldwide and made 33 films, died atthe young age of 42 in 1977, just fivemonths after signing his will. He was

survived by; and his will providedprimarily for, his then 9-year-olddaughter Lisa Marie, his fatherVernon and his grandmother MinnieMae. Elvis had divorced his first andonly wife Priscilla Presley four yearsearlier. Priscilla's divorce settlementreportedly consisted of a one-timepayment of $5 million plus $25,000 amonth for Lisa Marie. At the time ofElvis's death, he was engaged tomarry zo-year-old Ginger Alden,one of the witnesses to his will(but not a beneficiary).

Lisa Marie's interest in the estatewas to be held in trust for her untilshe turned 25, at which point shebecame the sole heir to her father'slucrative estate.

Just months before Elvis's 529thposthumous album hit stores in 2003, LisaMarie released her first album. Itwas alsoone of the year's top-ranking debuts, ris-ing to number five on the charts.

Priscilla has served as president andchairwoman of the board of ElvisEnterprises and overseen the extremelysuccessful marketing of 'The King's"image, including turning his Gracelandestate into a tourist mecca.

Quiet Man'sLast WordJohn Wayne, 190T1979

Known as 'The Duke," actor John Wayne(born Marion Michael Morrison) died atthe age of 72 in 1979with a will executed in1978, that named his seven children. Thewill stated that, because he and his thirdwife were "separated," he intentionally didHaL provide for her.

Wayne divided his tangible personalproperty into two parts. One portionincluded any "motion picture memorabil-ia or items whose value arises primarilyfrom their connection with my motionpicture career." Wayne made more than200 films in about 50 years to becomethe most famous movie star of Westernsof all time. The other part included"paintings, sculpture, American Indianartifacts, and other items having intrinsicmerit and value." Those art works were tobe donated to a charitable organizationselected by the executors of his will.

In a savvy move, Wayne alsobequeathed $10.000 to a former secretaryand $30.000 to his then secretary. It is usu-allya good idea for celebrities and businessexecutives to leave something valuable to asecretary. or key assistant, as these helpersoften know where assets are, or should be,and can be very helpful during the courseof the estate administration.

Famous for playing the gunslinger, itis not surprising that Wayne's willincludes an in terrorem, or no contestclause, providing that whoever contest-ed his will and lost would also lose hisbequest under the will. That lost bequestor interest would be "disposed of in thesame manner provided herein as if thatcontesting beneficiary. had predeceasedme without issue." In other words,Wayne was saying. "Put up or shut up."And that's not just good drafting. it's alsotrue grit.

Posthumous OutingRock. Hudson, 192Y198SActor Rock Hudson, born Roy HaroldScherer, Jr., cultivated an on-screen per-

sona as a ladies' man in a career thatboasted more than 30 movies, two televi-sion shows and three TV mini-series. Off-screen, Hudson was a closet homosexual.In 1985, as the AIDS crisis was emergingin America, he died from the disease atthe age of 59. And when hiswill was read,his secret was out.

Since the early 1970s, Hudson hadhad an intimate relationship with a mannamed Tom H. Clark. The will Hudsonexecuted in 1981 provided that all of hisvaluable tangible personal property wasto be left to Clark to distribute as he sawfit among Hudson's friends.Unfortunately for Clark, Hudsonrevoked that bequest in a codicil signedin 1984 in which he stated bluntly, "I pur-posely make no provision for the benefitof TOM H. CLARK."

Pursuant to his will, Hudson's resid-uary estate was to be "poured over"into a revocable trust that Hudsonhad created in 1974. The terms of thattrust were confidential and may havechanged during the 11years it was inexistence prior to Hudson's death.

Hudson's will specified that he be cre-mated and his remains "scattered in thechannel between Wilmington andCatalina Island" off the California coast.Reportedly, it was Tom Clark who carriedout Hudson's last request.

Flame BuoyantLiberace, 1919-1987The will signed in 1987 by the performerLiberace begins: ''I. LIBERACE,also some-times known as WALTER VALENTINOLIBERACE,LEELIBERACE,and WlAD-SIU VALENTINO LIBERACE,domiciled

died in 1933, when the GreatDepression was entrenched world-wide. His wife lived 24 more years.

Flawed Geniusw. C. Fields, 1879-1946William Claude Dukenfield, stage nameW. C Fields, was famous as a jugglerand comedian in the Ziegfeld follies andsilent pictures. When he reached his50s in the mid-icjos, though, heachieved national fame as a majormotion picture star. An equally famousboozer who would die of cirrhosis ofthe liver, Fields seems to have given a lotof thought to his mortality: His will pro-vided detailed directions regarding hiscremation and the disposal of his tangi-ble personal property. including thedivision of his liquor equally amongthree of his drinking buddies.

Field's will mentions his wife HattieHughes (whom he married in 1900)and their only child, son Claude,though it's never mentioned that theyare his closest relatives.

Fields' comedic persona was of achild-hating, dog-kicking drunk. But hav-ing run away from home at age 11becausehe couldn't get along with his father, heseems to have had great tenderness forhomeless children-as long as they werecaucasian. His will directed that his

"lelxecutors procure the organization of...W.C Fields College for orphan whiteboys and girls, where no religion of anysort is to be preached. Harmony is thepurpose of this thought."

Of course, that was "harmony" asdefined in the 1940s. "I am free of allprejudice," Fields once joked, "I hate allpeople equally" Apparently not.

Home RunsAre ForeverBabe Ruth, 1895-1948In a will signed shortly before his deathfrom throat cancer in 1948, GeorgeHerman Ruth, Jr., also known as BabeRuth and IIBambino, established a chari-table remainder trust for hiswife, with theremainder interest passing to The BabeRuth Foundation, Ine. According to thewill, that foundation was dedicated to theinterests of the children of America.Ruth's post-mortem largess to childrenwas born of an unhappy upbringing.When Ruth was seven, his poverty-strick-en father relinquished custody of him tothe Xaverian brothers and left him togrow up at St. Mary's Industrial Schoolfor Boys, a reformatory and orphanage.

During his 22-year professional career,Ruth was the most prolific home run hit-ter of his time. He spent his post-baseballyears giving talks on radio and at orphan-ages and hospitals. Aware of the value ofhis baseball collectibles and memorabilia,Ruth bequeathed to his executors, "allmysouvenirs, mementoes, pictures, scrap-books, manuscripts, letters, athleticequipment and other personal propertypertaining to baseball. . . to divide the

same among such persons, corporationsand organizations as I may from time totime request or in such manner as they intheir sole discretion may deem properand fitting."

As valuable as that collection was inthe 1940s, Ruth's baseball memorabiliais, of course, exponentially more valu-able today The bat with which Ruthslammed the first home run in a newlybuilt Yankee Stadium on April 18, 1923,is slated to be auctioned by Sotheby's inNew York on Dee. 2 and is expected togarner more than $1million. Accordingto PSA Sports, the bat was signed anddonated by Ruth to a newspaper contestas the top prize for a high school homerun hitting competition and won by ayoung boy who preserved it for morethan eight decades. Upon his death, hewilled the bat to his caretaker, who keptit in her possession until now.

Here's ThinkingOf You, KidHumphrey Bogart,1899-1957Leading man Humphrey Deforest Bogart,a.k.a. "Bogie," always seemed to be on thesilverscreen with a cigarette dangling fromhis lips.At the age of 51 in 1951,the famoustough guy died of throat cancer. In his willwas a contingent charitable bequest to TheHumphrey Bogart Foundation with thedirection that funds be used for medicalresearch, especially cancer.

Half of Bogart's estate was left tohis two children, Stephen and Leslie,to be held in trust for them until eachreached the age of 45. Bogie also pro-vided for his fourth wife, LaurenBacall, referred to in the will as"Betty," the name she was born withand preferred. The will provided thathalf of Bogart's residuary estate beplaced in a trust for Bacall's benefit,stating: "[Tlhe purpose of this trustshall be to provide for the securityand welfare of my beloved wife Bettyduring the remainder of her life. Inestablishing this trust, I am particularly

in LasVegas, Nevada ... declare that I amunmarried and have no living issue."That was no surprise to anyone who eversaw the pianist-showman in his glitter-ing Vegas outfits.

Liberacealways denied he was a homo-sexual,but rumors dogged him throughouthis career. In 1959, he won $24,000 in alawsuit against the London Daily Mirrorforimplying he was a homosexual. In 1982, heagain denied being gay, but paid $95,000to settle a highly publicized palimony suitbrought by his former chauffeur and body-guard, a then 23-year-old man whoclaimed to have had an "intimate sexual andemotional relationship" with Liberace forsixyears. After Liberace died in 1987,itwas

revealed that he'd had AIDS. Liberace'swillshows how adept he was at keepingsecrets. It also reveals a growing trend inwill drafting; the use of trusts to preserveconfidentiality Liberace'swill, signed just 13days before his death, transferred his entireestate to the trustee of the LiberaceRevocable Trust. That trustee wasLiberarce's attorney, and the terms of thattrust are not a matter of public record.When he died, Liberacewas survived by asister,a niece and nephews.

SophisticatedLadyJacqueline Onassis,1929-1994Five years after her first husband,President John F. Kennedy, was assassi-nated in 1963, Jacqueline Lee Bouvier

Kennedy married one of the world'srichest men, Greek shipping magnateAristotle Onassis. When "Ari" died in1976, "Jackie 0," as she was dubbed,reportedly received $26 million from hisestate. She apparently invested thosefunds wisely, because when she diedin 1994, her estate was reportedly worthbetween $50 million and $100 million.

Jackie O's lengthy, detailed will,signed two months before she diedof cancer at the age of 64 in 1994,included numerous specific bequestsof tangible personal property andcash to numerous friends and rela-tives. She named her long-time com-panion, Maurice Tempelsman, as aco-executor of her will, togetherwith her attorney, Alexander Forgerof Milbank Tweed Hadley & McCloy,rather than appointing her two chil-dren, both of whom were admittedattorneys.

Jackie's well-known predilectionfor privacy was demonstrated in herwill, which stated: " I request, but donot direct, my children to respect mywish for privacy with respect to suchpapers, letters and writings ... and .. totake whatever action is warranted toprevent the display, publication or dis-tribution, in whole or in part, of thosepapers, letters and writings."

With the exception of severalspecific bequests, almost all ofJackie's tangible personal propertywas bequeathed to her two surviv-

ing children, Caroline and John.When that property was sold bySotheby's for an amount in excessof $35 million, the estate taxes weremuch greater than anticipated, andthe residuary estate was essentiallydepleted, so the creative charitablelead trust in her will was neverestablished.

Ah, theMadness!Marlon Brando,1924-2004Method actor Marlon Brando rocketedto great heights early in his career, withunforgettable performances in The WildOne, On the Waterfront, and AStreetcar Named Desire. His latercareer included playing the Godfatherin The Godfather, rogue military manin Apocalypse Now and the father ofSuperman.

Brando was somewhat of asuperman himself, having fatheredat least 11 children, whom heacknowledged, with at least four dif-ferent women, only two of whom he

married. On the first page ofBrande's will, signed in 2002, is a listof the names and birthdates of hischildren. He expressly disinheritedthe children of his daughterCheyenne, who had committed sui-cide after Brande's oldest son,Christian, was found guilty of killingher boyfriend. I

Reprinted with permission from the October 2004 issue of Trusts & Estates .••(www.trustsandestates.com)Copyright 2004, PRIMEDIA Business Magazines & Media Inc. All rights reserved.

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