Latest / Curtis Sliwa & Larry Mendte In The Morning / Ann-Margaret Carrozza, Host of ‘The laws of your money’ on WOR Sundays Interview

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Ann-Margaret Carrozza, Host of ‘The laws of your money’ on WOR Sundays Interview · Curtis Sliwa & Larry Mendte In The Morning

• 0:00
  Speaker 1: All right, let's bring in Ann-Margaret Carrozza, host of The
• 0:02
  Speaker 1: Laws of Your Money with Ann-Margaret Carrozza. That's Sundays at
• 0:06
  Speaker 1: 10.30 in the morning. Ann-Margaret, thanks for joining us. I
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  Speaker 1: want to talk to you because this is your specialty.
• 0:13
  Speaker 1: You're one of the best in the country when it
• 0:15
  Speaker 1: comes to these things. I want to talk to you
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  Speaker 1: about the death, the accidental overdose of Hayden Panettiere, a
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  Speaker 1: young actress. Everybody knows her. I remember as the little
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  Speaker 1: girl in Remember the Titans and movies like Bring It
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  Speaker 1: On and Scream. But she's the latest in a long
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  Speaker 1: line of celebrities to have died without a will. Who
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  Speaker 1: will inherit her estate? And is there going to be
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  Speaker 1: a fight over this?
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  Speaker 2: Well, Larry, she is one of 50% of all Americans
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  Speaker 2: who don't have a will. And when we don't have one,
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  Speaker 2: it's our state of residence who determines who gets our stuff.
• 0:57
  Speaker 2: So tragically, she was survived by an 11-year-old daughter. So
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  Speaker 2: the laws of all 50 states, including California, where she lived,
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  Speaker 2: provide that the 11-year-old daughter will inherit the entire estate.
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  Speaker 2: But the bigger issue that is unresolved is who is
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  Speaker 2: going to manage the millions of dollars on behalf of
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  Speaker 2: the 11-year-old girl. So without a will... directing who was
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  Speaker 2: going to take over, the court said that Hayden Panettiere's
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  Speaker 2: ex-fiancee living in the Ukraine is going to handle the
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  Speaker 2: millions of dollars. Is that what Hayden Panettiere would have wanted?
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  Speaker 2: We're never going to know.
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  Speaker 3: Hold on a second. And Margaret Carosa, a guy in
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  Speaker 3: the Ukraine, the most corrupt country in the world, is
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  Speaker 3: going to handle the money?
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  Speaker 2: Exactly. The California court just put him in charge of
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  Speaker 2: the estimated $ 10 million estate on behalf of the 11-year-old daughter.
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  Speaker 2: And he is entitled to substantial annual commissions for doing so.
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  Speaker 3: Why?
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  Speaker 1: What is the rationale? How do they pick someone that
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  Speaker 1: is going to run that estate?
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  Speaker 2: Well, he, the ex-fiancé, petitioned the California court. and alleged,
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  Speaker 2: I don't know whether it's true or not, that the
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  Speaker 2: estate needed someone very quickly to oversee things because people
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  Speaker 2: were stealing objects from the home and he was needed.
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  Speaker 2: So in the absence of other good candidates and in
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  Speaker 2: the absence of a direction from the decedent, the court said, okay,
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  Speaker 2: here you go, Vladimir. Here's the $ 10 million. Good luck.
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  Speaker 1: Now, people should go to someone like you to get
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  Speaker 1: a will written, but can they write their own will?
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  Speaker 2: Well, you know, if we're on a game show, the
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  Speaker 2: answer is we can write our own will. But look
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  Speaker 2: at what happened with Aretha Franklin. She died in 2018,
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  Speaker 2: and they found a handwritten will in her sofa cushions.
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  Speaker 2: And that thing was in court for five years before
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  Speaker 2: they determined its validity. So there were millions spent in
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  Speaker 2: legal fees, but it saved her maybe 500 bucks to
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  Speaker 2: get a decent will from a lawyer. So a little
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  Speaker 2: bit bonkers.
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  Speaker 3: On a little different note, Ann Margaret Carosa, we're in
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  Speaker 3: an age where oftentimes two people get married, they go
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  Speaker 3: their separate ways, and then all of a sudden they
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  Speaker 3: have a new marriage, new family. If they... forgot or
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  Speaker 3: filled out a will in the first marriage, how do
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  Speaker 3: they undo that if they decide to do that for
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  Speaker 3: the second marriage?
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  Speaker 4: Well, the laws of all 50 states say that provisions
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  Speaker 4: for your spouse in a will are nullified as soon
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  Speaker 4: as that divorce decree is signed.
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  Speaker 3: By the judge.
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  Speaker 2: So that is not the big concern. The big concern
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  Speaker 2: is to update your documents when there is a change
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  Speaker 2: in the condition of a beneficiary. So my husband is
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  Speaker 2: my beneficiary, but if he develops dementia or has a stroke,
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  Speaker 2: now I don't want a nursing home getting the estate,
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  Speaker 2: so I'm going to create a trust for him.
• 4:30
  Speaker 1: Ann-Margaret Carrozza, thank you so much. Host of Laws of
• 4:33
  Speaker 1: Your Money with Ann-Margaret Carrozza. That's Sundays at 1030. By
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  Speaker 1: the way, I saw you on TV. You did great.
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  Speaker 1: We're not going to lose you, are we?
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  Speaker 2: Oh, thanks, guys.
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  Speaker 3: Never.
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  Speaker 2: Have a great weekend.
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  Speaker 4: Thanks.
• 4:44
  Speaker 1: Thanks.
• 4:44
  Speaker 3: You too. Bye-bye.