Fight Brewing Over Elizabeth Taylor’s Future Fortune

10:47 am Uncategorized

Taylor Elizabeth posed e1301507146992 Fight Brewing Over Elizabeth Taylor’s Future FortuneIt’s no secret that famous celebrities are often worth more dead than alive, and this may eventually become the case with Elizabeth Taylor, who died March 23 at the age of 79, leaving an estate worth an estimated $600 million to $1 billion.

Sizeable as it was, this may pale in comparison to what her earnings could be in the future.  And Hollywood celebrity watchers are already reporting friction between her family, business managers and even charities for how that money will be made and managed.

According to Forbes’ annual Top-Earning Dead Celebrities list, Michael Jackson earned more during the first year after his passing than any other musician or actor, dead or alive – around $275 million.  Elvis Presley continues to earn tens of millions each year, although he’s been gone for over 30 years.

Elizabeth Taylor’s estate could earn millions from the continued sale of her White Diamonds fragrance line – which racked up sales of $77 million last year – as well as merchandising and re-releases of her films.

California’s Celebrities Rights Act extends the personality rights for a celebrity to 70 years after their death.  The state’s “Astaire Celebrity Image Protection Act” (Civil Code section 3344.1) prohibits the unsanctioned use of the “name, voice, signature, photograph or likeness on or in products, merchandise or goods” of any person.

Unfortunately, like many celebrities, Ms. Taylor apparently did not make any plans for earnings after death from her estate – a lapse that could cause a lot of headaches for those she left behind.

Get started by contacting our Orange County asset protection estate planning law firm as soon as possible.

 

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