Law Offices of Connie Yi, PC - estate planning
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at 925-484-0888 or email us directly at [email protected] to schedule the consultation.

Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

Cautionary planning tale involving famed American moon walker

| Jun 28, 2018 | Uncategorized |

Global pop superstar Michael Jackson commanded legendary status for myriad reasons, including his ability to do the iconic and unforgettable “moonwalk” dance move.

News flash: He wasn’t the first.

Or even the second. That distinct honor goes to famed American astronaut Buzz Aldrin, who set foot on the lunar surface just after fellow adventurer Neil Armstrong did back in 1969. The exploits of the Apollo 11 crew are memorialized eternally and in countless ways.

It might be reasonably assumed that Aldrin, now 88 years old, would be contentedly basking presently in his personal fame and accomplishments, surrounded by a supportive family.

Such is not the case, though. In fact, recent news reports indicate that Aldrin is now communicating with his children and a former business manager largely through litigation filings. Two of his adult children filed a petition earlier this month claiming that their father is incompetent to handle his financial affairs and to resist third-party attempts to unduly influence him. They seek legal guardianship over him.

Aldrin’s take on that, gleaned through a lawsuit he filed just a week later in response to his children’s claims, is sharp and clear. He calls the allegations bogus and says his kids are slandering him. Moreover, he states that they and his ex-manager are unlawfully controlling his financial affairs, seeking to exploit him because of his age and unjustly enriching themselves at his expense.

Aldrin had a cognitive evaluation at UCLA in April. The psychiatrist who examined him concluded that he is “perfectly capable” of providing for himself and resisting efforts aimed at exploiting or defrauding him.

The case is sad, of course, but also notable for a fact pattern that is similarly related these days in many other high-profile estate-related matters (please see our June 21 blog post chronicling the current litigation surrounding the estate of famed comic genius Stan Lee).

America’s senior population is large and aging. Tales like Lee’s and Aldrin’s are instructive and cautionary, and underscore the need for timely, tailored and carefully crafted estate planning.


FindLaw Network

Recent Blog Post

Is estate planning necessary for young people?

Misconceptions exist about the relationship between age and estate planning. Yes, older people may prioritize estate planning for reasons related to advancing age and health concerns. That does not mean only older California residents benefit from the process. Young...

What are the responsibilities of a fiduciary?

Residents of California may want to learn more about the role of the fiduciary and their responsibilities. Because fiduciary duty may be a requirement among certain professions, clients and professionals should know more about what this is. The meaning of fiduciary...

5 factors to consider when choosing a guardian

For parents, one of the biggest reasons they decide to create an estate plan is to ensure their child will be cared for no matter what. It isn’t easy to think about a tragedy where a child may lose both their parents before they turn 18, but parents have to plan for...

View More Blog Posts