Follow The Money
Your dad might not be a billionaire but if he starts spending money in unusual ways or in large sums it’s time to pay attention and take action. The case of 92 yr-old billionaire Sumner Redstone case has made the news recently for many reasons, not the least of which is the wealthy businessman gifted two young girlfriends with $150Million in the past 5 years. When he decided to end the relationships and cease gifting one of the former girlfriends sued claiming he was incompetent.
Today the California Court has dismissed the ex-galpal’s case. The judge heard testimony from Mr. Redstone and ruled he was competent, holding “Redstone has told me what he wants. How can I sit here and say, no,you can’t have what you want?” Redstone’s daughter, Shari, wishes to become her father’s health care power of attorney, which would legally allow her to make health care decisions for her dad. At this time her father agrees with Shari being his health care poa. Lawsuits such as Redstone’s provide a wonderful opportunity to open the door to conversations with family about issues which are legally, practically and financially important.