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11-07-2019 06:54 PM - edited 11-07-2019 06:55 PM
From the NY Post today:
"Late Cars’ singer Ric Ocasek cut his estranged, supermodel wife out of his will, claiming that she “abandoned” him, the now-public document reveals. “I have made no provision for my wife Paulina Porizkova (“Paulina”) as we are in the process of divorcing,” the new-wave icon wrote in his last wishes. “Even if I should die before our divorce is final … Paulina is not entitled to any elective share … because she has abandoned me.”
A filing listed with the document lists Ocasek’s assets to include $5 million in “copyrights” — but just $100,000 in “tangible personal property” and $15,000 in cash."
I'm not sure how that provision will hold up if she challenges it. Usually a wife is entitled to a share of her husband's estate determined by state law, and they weren't yet divorced. She was taking care of him too, so she may not have "abandoned" him. If I were she, I'd challenge the will.
11-07-2019 07:26 PM
He disinherited her by name, and that is how you do it if you want it to stand. I guess she could try to challenge it, but that will cost a lot of money with no guarantee.
11-07-2019 07:38 PM - edited 11-07-2019 07:40 PM
I've only seen 2 sources reporting this story, so..given that,
it was also said he has Trusts for his kids...so much of his
reported wealth is probably tied up with those trusts.
As for Paulina?
He might have tucked a chunk away for her in a Trust...
and reported cut from the will due to abandoment,
so there's lots to this story probably not being reported
and probably not for the Public.
11-07-2019 07:48 PM - edited 11-07-2019 07:58 PM
Most wills or trusts include the phrase similar to this: anyone contesting this will be cut out. Most descisions in wills are final. Done deal. If she was cut out, there is no way to get money out, unless she can prove he owes her money like back support, a loan, etc
ETA, when you contest a will sometimes they bite their own hand. When the trust or estate has to go to court, fees for trust denfense ate taken out of the funds in trust. She would pay her own legal fees, but the trust she fighting to get money out of has to pay legal fees. He sounds like he doesnt have a lot of cash either.
by the way, just because someone has been famous doesn't mean they have money. Musicians as a rule dont get paid a lot unless you are Beyonce. Bad investments, legal fees, alimoney, child support, many divorces dig into money you once had. Once the fame dies, money slows down and most wind up eating into savings to live. One of the few child stars I know that are wealthier than ever are the olsen sisters. Omg, did they invest...and they found another job they enjoy to bring in income. They are hugely successful. Rare.
11-07-2019 07:55 PM
Most wills or trusts include the phrase similar to this: anyone contesting this will be cut out. Most descisions in wills are final. Done deal. If she was cut out, there is no way to get out, unless she can prove he owes her money like back support, a loan, etc
ETA, when you contest a will sometimes they bite their own hand. When the teust or estate has to go to court, it is taken out of the funds in trust. She would pay her own legal fees, but the trust she fighting to get money out of has to pay legal fees.
Those provisions are unenforceable.
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