26 Oct WILL THE ESTATE OF “SCREAM” STAR, HAYDEN PANETTIERE, BE ABLE TO COLLECT OVER $500,000 OF MYSTERIOUS MISSING JEWELRY FOR THE BENEFIT OF HER 11-YEAR-OLD DAUGHTER?
Hayden Panettiere, star of “Scream”, “Nashville”, “Remember the Titans”, etc., died at 36 without a will leaving her 11-year-old daughter, Kaya, as her sole heir. Since Hayden’s death from an accidental drug overdose, some of her personal belongings—most notably a $500,000 engagement ring given to her by former fiancé Wladimir Klitschko, a former heavyweight boxing champion—have gone missing.
Klitschko, on behalf of Kaya, has requested an official investigation. He petitioned the court in September and October due to concerns that a non-family member may have taken the ring and other items to a pawnshop. A Los Angeles court has granted Klitschko temporary legal authority (guardianship of the estate) to petition for probate (on behalf of Kaya since Kaya is a minor and Hayden died intestate) and nominate an administrator for the Estate to pay any bills and collect assets on behalf of the estate and distribute thereafter. The non-family member has not been identified. Her sometimes boyfriend, Brian Hickerson, and his brother Zach, were at the death scene.
The temporary guardianship is scheduled to expire on December 7, 2026, concurrent with a status hearing to investigate the missing property.
When a person dies intestate in Texas, an attorney ad litem is appointed by the court to determine if there are any unknown heirs.
Furthermore, since a minor is deemed to lack capacity, a guardian of the estate must be appointed to manage the assets to be inherited by the child after the administrator has paid debts, taxes, etc. Annual accountings must be filed with the court. Major decisions must be approved by the court. Many times it will be a parent (who is the natural guardian) of the child. If Klitschko was also deceased, the court would have appointed a guardian of the person (a person who would take care of and raise the child). If there is a guardian of the estate, the child may be entitled to receive the funds outright when reaching the age of majority (18).
Sometimes courts permit (when the inherited assets are small) deposit of funds into the Court Registry (funds locked in at a low interest rate) until the age of majority or setting up an UTMA account (a custodial account typically with a bank) whereby a custodian manages the money without court supervision. The child would be entitled to the funds at age 18 (if at a bank).
Texas also permits a court-created management trust which could delay distribution until the child reaches age 25 (more mature). This is typically for the health, education, maintenance and support of the child without the necessity of court approval. This is often used when there is a larger amount of assets.
Of course, Hayden could have avoided all of this by simply having a will or trust that could dictate how funds could be used, when her child could be in control of the funds, etc. Hayden is entitled to residuals from many of her movies, etc. She failed to do any planning resulting in the court determining what is in the best interest of the child in addition to much higher costs and delays.
Makes a planner want to “Scream”!
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