Wednesday 25 May 2011
Sunday 22 May 2011
What Happens When Celebs do NOT have the proper Estate Planning?
We’ve talked a lot about Celeb’s buying and selling, getting in financial trouble but what happens to celebrities when they don’t have their estates in order when an untimely and unfortunate ending happens?
Take Don Ho, the tiny little bubbles Hawaiian Singer made a promise to his first estranged wife on her deathbed that their six children can continue to live in the Lanikai Hawian home.
Unfortunately this was a verbal agreement and after the passing he listed the home for 10 million. While the home was listed Ho died of Heart Failure. The trustees eventually sold the home for 6.05 million which did not boad well for his ten children ( four from other subsequent relationships) who were now at odds over the proceeds. And allegadly about a month ago the 6 adult children were forcibly removed from the Diamond Head Estate. The argument could have been avoided if the agreement was in writing.
Don Ho had several different ex’s and children and so did Famed rebel actor, Dennis Hopper. Dennis was locked in an ugly divorce fight with his fifth wife, Victoria. During the crazy divorce he asked the judge for permission to change his life insurance policy to remove his wife and their young daughter as beneficiaries. His request was denied and the judge said that the issue would have to wait for trial. But Hopper died first, and the life insurance was never changed. As you have just heard Celebirites are just as vulnerable and sometimes not ready for an untimly event . So, now is a good time to ask yourself if your ready with the proper agreements in place, in writing, reviewed yearly and have a will!
And that’s your celebrity real estate gossip on the radio real estate show.
Take Don Ho, the tiny little bubbles Hawaiian Singer made a promise to his first estranged wife on her deathbed that their six children can continue to live in the Lanikai Hawian home.
Unfortunately this was a verbal agreement and after the passing he listed the home for 10 million. While the home was listed Ho died of Heart Failure. The trustees eventually sold the home for 6.05 million which did not boad well for his ten children ( four from other subsequent relationships) who were now at odds over the proceeds. And allegadly about a month ago the 6 adult children were forcibly removed from the Diamond Head Estate. The argument could have been avoided if the agreement was in writing.
Don Ho had several different ex’s and children and so did Famed rebel actor, Dennis Hopper. Dennis was locked in an ugly divorce fight with his fifth wife, Victoria. During the crazy divorce he asked the judge for permission to change his life insurance policy to remove his wife and their young daughter as beneficiaries. His request was denied and the judge said that the issue would have to wait for trial. But Hopper died first, and the life insurance was never changed. As you have just heard Celebirites are just as vulnerable and sometimes not ready for an untimly event . So, now is a good time to ask yourself if your ready with the proper agreements in place, in writing, reviewed yearly and have a will!
And that’s your celebrity real estate gossip on the radio real estate show.
Saturday 14 May 2011
Bela Lugosi's old House on the Market! Extream Home Makeover homes
One of the hottest movies, Twilight, spawned a new take on Vampires; well….the ultimate Vampire was Bela Lugosi, the original Dracula and the home he once owned has come up on market in the Hollywood Hills at $2,.3 million dollars. There is no way Dracula could have lived in this 5000 square foot, five bedroom home as every room has an array of windows beaming in the sunshine!
As we know Dracula had his problems with too much sunlight, Jennifer Aniston however has an issue with buying too many condos! Jennifer recently purchased two condos in the same building in New York to make one big 3400 sq foot Urban Pad, she is allegedly picking up a third- one bedroom in the same building! Kind of like those chips that once you start eating you can’t stop!
Now who loves watching the incredible stories on Extreme Home Makeover, I cry every time! But what happens to those Extreme makeover homes after the cameras leave?? An ugly trend has been developing! Homeowners have struggled to keep up with their expensive palaces only to find their lavish homes have come with bigger, more lavish utility bills and bigger tax assessments. Some homeowners have tapped the equity of their super-sized homes only to fall behind on the higher mortgage payments.…Sad reality for an hour of feel good tv!
Paris Hilton, Dennis Quaid ans Ashton Kutcher
Party girl Paris Hilton back in her hey day was the poster child of boys, booze and the fast life. In 2007 it was no surprise when she listed her 1920’s Spanish style mansion and it sold in 10 days! The home had international notoriety for the home she was taken to and from jail for her drunk driving charges….. the home has just been placed on the rental market……. you can have a little Paris history by renting the former party place on a monthly basis for 20 thousand per month.
We’ve spoken many times about the poor celebrities that are loosing millions with their real estate investments…but there are some savy celebs who are making a mint on real estate.
Dennis Quiad purchased his home in 1999 for a reported 1.8 million after a series of renos he has just listed the home for 16.9 million….an 823% increase in price.
Ashton Kutcher back before Demi Moore purchased his bachelor pad era home in 2004 and now has placed on the market after renovating for $2.6 million, potential profit 1.5 million.
And Jennifer Aniston bought her home shortly after the big Brad breakup for 13.5 million and has just placed on the market for a whopping 42 million$$$ The project may have been an emotional get over the ex project…but she could be padding her pocket book as well.
Some celebs do have a knack for real estate and making a nice cozy profit.
We’ve spoken many times about the poor celebrities that are loosing millions with their real estate investments…but there are some savy celebs who are making a mint on real estate.
Dennis Quiad purchased his home in 1999 for a reported 1.8 million after a series of renos he has just listed the home for 16.9 million….an 823% increase in price.
Ashton Kutcher back before Demi Moore purchased his bachelor pad era home in 2004 and now has placed on the market after renovating for $2.6 million, potential profit 1.5 million.
And Jennifer Aniston bought her home shortly after the big Brad breakup for 13.5 million and has just placed on the market for a whopping 42 million$$$ The project may have been an emotional get over the ex project…but she could be padding her pocket book as well.
Some celebs do have a knack for real estate and making a nice cozy profit.
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