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Tag: Inheritance

  • Inherit Some Expensive Jewelry? Don’t Post It on Facebook

    Since the beginning of the social media craze, police have been warning people that criminals use Facebook too, and they can stalk you just the same as a crazy ex-boyfriend. Sure, you think you’re being cute with your wooo-hooo, goin to Jamaica! posts, but to someone who really wants to steal your shit – it’s an open invitation.

    Police say that some dumb Facebook and Instagram activity likely contributed to a home invasion in northeast Philadelphia.

    After recently inheriting some expensive jewelry, some teens decided to slap it up on Facebook and Instagram – you know, for the likes. Apparently, the wrong people were watching.

    At about 2:30am this past weekend, three masked men forced their way into the victim’s apartment by busting down the front door. From CBS Philly:

    Police say the robbers demanded jewelry. They got away with a Rolex watch and several gold chains, jumping out of the second floor window before police arrived.

    Authorities say another teen inside the home was quickly able to call police on his cell phone from the bathroom, but the suspects escaped through a back window with a Rolex and a several gold chains as officers arrived.

    “Definitely somebody who was affiliated with him. It had to be. It had to be one of his friends or friends of a friend. I think it was a setup to be honest with you,” said the victim’s roommate.

    If you come into some money or inherit a bunch of Rolexes, you might want to keep the news off Instagram. You never know who’s following you.

    Image via Thinkstock

  • Anderson Cooper Will Not Receive An Inheritance

    CNN News anchor Anderson Cooper, 46, comes from one of the wealthiest families in American history … the Vanderbilt’s.

    However, that does not mean that he has a huge inheritance in store. Actually, Cooper revealed that his mother Gloria Vanderbilt has informed him that there was no trust fund.

    “My mom’s made clear to me that there’s no trust fund,” Cooper told Howard Stern. “There’s none of that.” Vanderbilt was the recipient of a large inheritance, but Cooper said that she made most of her money working. “She made more money on her own life than she ever … inherited,” he said. “We believe in working.”

    90-year-old designer Vanderbilt is reportedly worth a whopping $200 million, but doesn’t plan on leaving it to her son. Cooper claims that it doesn’t matter to him is he receives any money from her, and considers an inheritance a curse. “I don’t believe in inheriting money,” Cooper said. “I think it’s an initiative sucker. I think it’s a curse.”

    Cooper has made a name for himself in the broadcast industry and is said to make $11 million per year. Known as the “Silver Fox’, Cooper said that he never expected anyone to give him anything, and that made him work hard to get to where he is now. “I’m doing fine on my own, I don’t need any [money].”

    “Who has inherited a lot of money that has gone on to do things in their own life?”, he asked. “From the time I was growing up, if I felt that there was some pot of gold waiting for me, I don’t know that I would’ve been so motivated.”

    Image via Wikimedia Commons

  • Nelson Mandela Leaves $4.1 Million Estate, Hopes Family Stays Unified

    “Reading wills are always occasions charged with emotion.”

    This reply came from Deputy Constitutional Court head, Dikgang Moseneke, when queried about the recent review of Nelson Mandela’s own will to friends and family members.

    The man who spent his life in selfless service continued conferring his possessions onto those he loved after his passing – in the form of his $4.1 million estate. According to Moseneke, the mood was generally good among his relatives, all of whom were reportedly present for the reading. Family members, schools, former staff, and the ruling African National Congress each learned they would acquire a generous inheritance from Mandela on Monday.

    When the former South African president passed away last year, he left behind an estate that included homes in Johannesburg, Eastern Cape, Qunu, and Mthatha as well as royalties from his writing.

    While his wife, Graca, was left half the estate, it is reported that she will likely relinquish her rights to it in exchange for other assets and four properties in Mozambique. With respect to friends, workers, and educational institutions, Mandela left about $4,500 for personal staff members like his loyal aide, Zelda la Grange, around $8,900 for various schools he attended, and roughly equivalent sums for scholarships and grants. Also receiving part of his royalties may be the African National Congress, with the aim of spreading information regarding party policies and principles – especially reconciliation.

    The children of Mandela have disagreed in times past regarding who heads the family or who should gain from his investments. Some of them have even already appropriated the name of the anti-apartheid hero to sell wine, clothing, artwork, social network ventures, and reality television shows.

    Even so, they and some of his grandchildren each received $300,000 and the estate is to be split among trusts for the benefit of his more than 30 descendants. However, the spiritual priorities that guided Mandela’s life mission did not depart with him in December. In fact, they may have been best clarified when he wrote of his hopes for the Houghton home in which he died after 95 years spent bravely enriching humanity:

    “It is my wish that it should also serve as a place of gathering of the Mandela family in order to maintain its unity long after my death.”

    In the midst of his monetary bounty and the branding of his image, let us hope that that for which Mr. Mandela actually stood endures – and that his true “will” is carried out by those who benefited from his generosity.


    Image via Youtube

  • Nicole Smith Daughter May Be Entitled To Millions

    When Anna Nicole Smith died in 2007, she had been in a lengthy, no-holds-barred battle with her millionaire husband’s estate lawyers over money she claimed was hers. Now, a judge has ruled that her daughter is entitled to some of it.

    Smith married Howard Marshall in 1994; despite their 62-year age difference, she said she was in love with him and didn’t care about his money. When he died a year later, his family claimed he’d left nothing to her in his will even though she said he’d promised her $300 million. The case hopped around from court to court, with Smith awarded millions only to have the amount reduced drastically when it went to federal court. In 2010, a jury found that Marshall’s will should be upheld and that his estate be handed over to his son, Pierce Marshall.

    “J. Howard’s wishes were always perfectly clear: He gave Anna Nicole Smith approximately $8 million in gifts during his lifetime, and those gifts were all that he intended to give her,” said Eric Brunstad, the Marshalls’ lawyer.

    Now, however, a California judge says that Marshall’s attorneys didn’t play fair and left out vital documents from Smith’s estate lawyers after her death. He says her daughter, Danielynn, may be entitled to as much as $49 million in sanctions against Marshall’s family.

    Dannielynn, who is just six years old, is being raised by her father, Larry Burkhead.

  • Samsung Fortune Fuels Family Feud

    Lee Kun-hee is the chairman of Samsung Electronics. He resigned as chairman of Samsung on April 21, 2008 owing to Samsung Slush funds scandal, but returned on March 24, 2010. He received a three year suspended jail term after he was found guilty of making illegal bond deals.

    His dirty dealings brought huge losses to Samsung Data Systems.

    The court found 67-year-old Lee guilty of forcing the company to sell bonds with warrants to his son and daughters at a huge discount in 1999. The sale cost $180 million to the sales integration unit of Samsung.

    Now the big bossman is trying to keep his siblings from claiming more money from their father’s (Lee Byung-chull ) inheritance.

    “If they file suits against me, I will take the same actions and I am even thinking of going to the Constitutional Court, taking it a step further than the Supreme Court. I have no intention of giving them any money.”

    Lee’s elder brother, Lee Maeng-hee, initiated the inheritance suit in February; since then, two other family members have joined him. The siblings could win over 100 billion dollars.

    When asked if he was hurt by the fact that his own sibling raised the suits, he said, “No, I don’t feel hurt since they are not my competition.”

    At least his children aren’t suing him.

  • Billionaire Afraid To Leave Boatloads Of Money To Kids

    Gina Rinehart is a Billionaire. She inherited an Australian mining empire from her father. Unfortunately, she doesn’t think her kids are fit to handle the fortune they are likely to inherit from her some day. Evidently Rinehart is not alone. According to surveys, 75% of millionaires didn’t inherit their wealth. So these self made millionaires didn’t grow up with money but interestingly enough, they want their kids to have the same values they did.

    How can you blame the kids though? If you ever watched the show, “My Super Sweet Sixteen,” on MTV, you were probably horrified to see kids that couldn’t even drive yet (and probably won’t ever have to) getting a brand new Lexus or Mercedes for their birthday and acting disappointed. Although it’s hard to be sympathetic with the kids, it seems like it would be up to the wealthy parents to teach their kids about a work ethic and give them an opportunity to work if they want them to have one. So it’s no surprise that Rinehart’s kids are fighting her back to prove they deserve and can handle their boatloads of money.

    Billionaire, Gina Rinehart is currently in the middle of a court battle in Australia that has brought this issue to the news. Rinehart is convinced that her three children aren’t fit for their fortunes and so she’s cut them out of ownership stakes in the family mining business and trust. She claims none of her kids have ever had a real job other than a family one. Court documents state,”None of her children has the requisite capacity or skill, nor the knowledge, experience, judgement or responsible work ethic to administer a trust in the nature of the trust in particular as part of the growing HPPL Group.”

    (image)@leongettler
    Leon Gettler    “If money talks, then no one in Australia shouts louder than Gina Rinehart, who is now a billionaire 17 times… http://t.co/J438NcGG(image) 2 days ago via Facebook ·  Reply ·  Retweet ·  Favorite · powered by @socialditto