Russell J. Fishkind - AARP Probate Wars of the Rich and Famous. An Insiders Guide to Estate and Probate Litigation

MAKING YOUR MONEY WORK FOR YOU

Maybe youre thinking its time to review your investment strategy and make the most of the money you have today. Maybe youve already built a financially successful retirement egg and want to protect what youve built. Or maybe you need to bulk up your earnings to ensure your familys future.

Welcome to money for grown-ups. Where do you turn for credible information?

Dedicated to helping you protect your assets, stretch your dollars, and bolster your longterm security, AARP can offer you powerful solutions. Whatever your strategy for managing money, weve got suggestions that will help from saving money on that next big purchase to planning your charitable giving. If youre taking your job to the next level or building up a second career, weve got strategies that will help you make your mark.

You may think your money or your financial advisor should be working harder for you. You may be watching market trends and seeing new opportunities. And, of course, you want to protect yourself and your loved ones from scams and data breaches. We can give you the support you need.

And turn to us for fun, too. (Is it time for that car, that trip, that weekend home youve always wanted?) Because that, too, is what this time of your life is about.

AARP is a nonprofit, nonpartisan membership organization that helps people 50 and older improve their lives. For more than 50 years, AARP has been serving our members and society by creating positive social change. AARPs mission is to enhance the quality of life for all as we age; lead positive social change; and deliver value to members through information, service and advocacy. This information in this book is for educational purposes and does not constitute financial advice.

Contents

Copyright 2011 by Russell J. Fishkind. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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ISBN 978-0-470-58593-1 (cloth); ISBN 978-1-118-15901-9 (ebk); ISBN 978-1-118-15902-6 (ebk); ISBN 978-1-118-15903-3 (ebk)

To those Ive loved and lost, heres to your legacy.

My father, Eugene L. Fishkind

My grandmothers, Sara Fishkind and Dolly Gutterman

My grandfather, Matthew Gutterman

My father-in-law, Mel Zodkoy

My aunt Anne Diamond and her son, David Diamond

My second father, William L. Melillo Sr.

My little brother, Patrick W. Melillo

Acknowledgments

This book could not have been completed without the contributions of so many who deserve honorable mention. First and foremost, my clients, who for the past 22 years have entrusted me to help protect their family and their legacy. To my students at New York University (NYU), who come into the class after a long days work, contribute their experiences and their insights, and help make each and every class interesting and fun. It has been an honor and a pleasure to have spent so much time with so many capable individuals.

Nichole Alling, Megan Davies, Melissa Lowe, Stacey A. Digan, and Thomas Hearne for their research and creativity. Debra Englander, Susan Bliss, Emilie Herman, Melissa Lopez, and Tula Batanchiev of John Wiley & Sons, who have extended deadlines, commented on draft after draft, and worked with me to see this dream become a reality.

My partners at Saul Ewing, LLP, who provided me with encouragement, a room in which to write, and staff to assist.

To Cathy, formerly known as Kathy, who read the Introduction and politely suggested a complete rewrite. You were right.

Leona, Bill, Frank, and Marion, I have learned more from you than you can ever learn from me. You have redefined the meaning of the word process .

Nancy Slowe, Esq., and Ron Colicchio, Esq., who helped with the research and editing of each chapter and provided their frank and candid comments.

Each of the following professionals provided valuable comments and suggestions from their vast experience: Greg Blank, Greg Butler, Bill Carrozza, Robert Chirumbolo, Stella Matteace-Esposito, David Friedman, Myron Gelman, Frank Granzio, Jeff Green, Thomas Henske, Christopher Hildebrandt, Michael Kay, Lawrence Keller, Jenny D. Krstinovski, Thomas Loester, Ken Mayer, William McDevitt, Philip Pahigian, J. George Reilly, Neil Rhein, Erik Rudolph, Ralph Saviano, Debra Franklin Schatzi, Manish Shah, David Stecker, Stuart Stern, Les Streitfeld, Andrew Sukhin, Kate Sweeney, Bruce Weinstein, Erik Wildstein, H. Edward Wilkin III, and Ralph Wright; and Wesley Bedrosian for his artistic contributions.

Where would I be without Linda Hanley. For the past 15 years she has filed, organized and indexed every file. She has scheduled each and every matter, proofed all the documents and greets all my clients, colleagues, friends and family members warmly. Ms. Hanley, thank you and dont retire.

William L. Melillo Jr., who for the past 30 years has given me the support of a brother and the benefit of his creativity and entrepreneurial spirit. My Mother, Charlotte Leigh Fishkind, thank you for your undying love and support.

Josh, Larry, and Shaina: What a pleasure to have my three children contribute to this effort. Josh provided me with current events and his comments to numerous chapters; Larry found song lyrics and movie quotes that fit perfectly into the book; and Shaina edited countless fragmented sentences, fixed misplaced commas, and taught me the proper use of semicolons.