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Unfortunate. I thought that had been settled.
When you do the kinds of things Aretha did with her will, it’s a recipe for a fight and much money to be wasted. I see a link saying she owed $7 million in income tax? The simplest is treat all your kids equally and do a trust for an equal share when there’s some disability but you have to do it properly and sign it properly - no scribbling on old wills, no leaving messages hoping they are valid. She surely had enough money to do things properly.Quote:
Originally Posted by PeaceNHarmony
Absolutely. As regards the income tax debt, my opinion is that Aretha's habit of wanting to be paid cash finally caught up to her. I'm in a business that allows lots of cash payments and I've seen that those who receive income as cash tend to ... forget ... that the taxman cometh. Add to that Aretha's legendary quixotic personality and it's an attorney's windfall. I'm reminded of Charles Dickens' 'Bleak House' and the Jarndyce v Jarndyce lawsuit that goes on for so long that no one remembers what the suit is about and when the inheritance is finally usurped by attorney fees there is a massive celebration.Quote:
Originally Posted by jobeterob
I think alot of female singers had alot of financial/tax problems from letting husbands be "managers" when they were not educated properly for the job.
This has got to be the messiest estate battle I've ever seen.
This is judgemental on my part - but this is the kind of morass you get into with someone that has a means of making a good living but is very unsophisticated and stubborn and thinks they can do whatever they want. It was just plain stupid to do this and is a magnificent way to squander masses of money.Quote:
Originally Posted by midnightman
She may as well have just written a will and willed her assets to a few law firms as the lawyers will be the only ones who will come out ahead.Quote:
Originally Posted by jobeterob
You are right.Quote:
Originally Posted by Spreadinglove21
Hasn’t it been 4 years since she died?
Firstly pay off a massive debt to the IRS and then attend lawyer hearings where everyone has a lawyer and start paying them.
There was no need for any of it.
I have heard that she refused to go on stage till a agreed side envelope was in her personal possession for "incidental expenses" at every performance...to cover tips, etc.
Which would certainly move her along to a $7 million dollar IRS billQuote:
Originally Posted by gman
Just plain nuts
I remember hearing that a certain amount of her fee was indeed to be given only in cash so that she could make payroll. The bag with the cash would then be placed under the piano right before the show started and stayed there throughout the concert. Once one of her assistants removed the bag, you knew the show was over. I attended many of Aretha's concerts and noticed the bag thing.Quote:
Originally Posted by gman
I wonder how long that lasted. Maybe all of her career? Or at least since the Ted White divorce?
The cash thing? It probably started from being burned too many times on the Chitlin' Circuit.Quote:
Originally Posted by midnightman
In a profile of Aretha in a book of Linda McCartney photographs, Linda recalled Aretha paying musicians with cash out of an envelope. If I remember correctly, Ted was mentioned as being around at the time.
There was one cute story relayed about Aretha's cash dealings during the CNN coverage the day she passed. A gentleman noted that he had hired Aretha to sing at his wedding and decided to play a trick on her by not giving her the full amount. He said Aretha called him to her room and asked did he not think she could count? He then told her it was a joke and gave her the rest. He said they had a good laugh over it.
That makes sense if she started because she got ripped off during the chitlin' circuit days since a lot of artists did!Quote:
Originally Posted by reese