Tempe Arizona Estate Planning

Grandson Wins Battle for Manson Remains

Jason Freeman, whose grandmother was Manson's first wife, making him Charles Manson's grandson, has won the legal right to dispose of the criminal’s body, reports NPR in “Charles Manson Grandson Wins Legal Battle Over Cult Leader's Body.”

Manson, who died in November, was serving a life sentence for coordinating the notorious “Helter Skelter” killing spree in Los Angeles in 1969. Since his death late last year, his body has been on ice at California's Kern County Coroner’s Office while the legal battle ensued. Manson's cult viciously murdered seven people over the course of two nights in 1969, including actress Sharon Tate, who was pregnant at the time of her death.

Freeman has not stated his intentions for disposing of the body, according to The Associated Press, but he has "previously said he would cremate and spread the ashes of Manson and put to rest 'this so-called monster, this historical figure that shouldn't have been blown up as big as it was for all these years.'"

Kern County Superior Court Commissioner Alisa Knight stated in her ruling that Freeman is Manson's "surviving competent adult next of kin," which means that he will get to decide what happens to the remains.

A man named Michael Channels submitted a purported 2002 Manson will, according to court documents.

The media has reported that Channels claimed to be a pen pal of Manson’s, who collected and sold Manson memorabilia.

The purported will left all of Manson's estate to Channels, and the probate court found some aspects of it require further proof, including the fact that he was also one of the witnesses to the will.

A purported son of Manson, Michael Brunner, objected to Freeman's claim. However, Brunner later admitted that he was legally adopted by his grandparents, the court ruling states. That disqualifies his claim, the court said.

Dale Kiken, the attorney representing Freeman, expects that Freeman will scatter Manson’s ashes over a body of water. He told an AP reporter that he thinks a public scattering of his ashes will create finality for relatives and everyone who had been affected by Manson.

Reference: NPR (March 13, 2018) “Charles Manson Grandson Wins Legal Battle Over Cult Leader's Body”

Planning a Quick Sale of Your Business? Not So Fast!

It’s hard for small business owners to objectively assign a value to their business, as examined in Southcoast Today in “Retiring after you sell your business? It may not be as simple as you think.”

The simple answer is that it’s worth what someone else is willing to pay for it.

 However, there are many factors that need to be considered when valuing a business. They include the age of the business, revenue, income, stability of revenue and income, growth rate, industry, management, systems and procedures, key employees, employee turnover, the economy and more.

There are also multiple methods used to value it, such as Book Value, Comparative Business Sales, Multiple of Discretionary Earnings, Discounted Cash Flow and Asset Valuation.

In many instances, the business is the single biggest asset owned by the owner.  It may represent the majority of his or her net worth. If so, the owner should consider how he or she will monetize the value of the business, when it comes time to retire. They also need to protect the business against risks that could close it.

If the business is the owner’s biggest asset, how is she going to be able to retire comfortably?

There should be a succession plan in place to clarify whether the business is to be sold to an outside third party, to company employees or to the owner’s children. The owner will also have to possess enough other non-business assets, if it’s to be left to his or her children

In a family business, there could be one child who worked in the business, while the other children didn’t. How will this be handled in estate planning?

Selling a privately held business is a complex undertaking with many moving parts. An experienced estate planning attorney, working in concert with a CPA who has credentials in valuation and forensics, will be able to provide you with a clear picture of the value of the business, align the sale of the business with your family dynamics and create a plan for the future that addresses retirement planning, succession planning and estate planning.

Reference: Southcoast Today (March 2, 2018) “Retiring after you sell your business? It may not be as simple as you think”