20 Sep Shannon Doherty’s Family Benefits From Deathbed Divorce in Contrast to Estate Planning to Limit Jackie O’s Inheritance
Famed actress, Shannon Doherty, most commonly known for her television roles in “Beverly Hills 90210” and “Charmed”, got divorced from her husband, successful photographer, Kurt Iswarienko (“Kurt”), hours before her death in California on July 13, 2024.
In contrast, Aristotle Onassis planned on divorcing former first lady Jackie Kennedy Onassis, but he died prior to the divorce. However, his estate planning reduced the size of her inheritance to the extent permissible under applicable law. In both cases, timing made a difference who received millions of dollars.
In the Doherty case, Kurt could have a right to their community property acquired during marriage pursuant to California’s community property laws if they were still married at the time of her death. Their divorce was finalized by Kurt’s signed agreement hours prior to her death. She died at 53 due to breast cancer.
According to divorce records, Doherty had a $6 million home in Malibu, California (although $3 million was still owed on her mortgage) and several million in additional assets. The residuals of approximately $21,000 a month she earned from Charmed were reduced as of June 30, 2024 when it was taken off streaming.
As a result of the divorce, Doherty’s family (not Kurt) received what would have been a community property interest under California community property law. The divorce case settled the day before she died when she relinquished her request for spousal support she previously requested since Kurt had more earnings and her residuals were scheduled to be reduced. Kurt signed the agreement for divorce hours before her death. In the last few years, Kurt’s average annual earnings as a successful photographer were approximately $672,916 vs Shannon’s $259,708 (mostly residuals) according to divorce filings. They were married for approximately 12 years before they separated in 2023.
In contrast, Aristotle, who had an estate estimated at around $500 million at the time of his death in 1975, was planning on divorcing Jackie Kennedy Onassis. However, he died prior to the divorce. Aristotle was much older than Jackie. They married in 1968. According to reports, his health significantly declined after they got married. He blamed Jackie for this. He also despised her wasteful spending habits (reportedly she spent $1.5 million the first year of their marriage). He was also rumored to have a relationship with famed opera singer, Maria Callas.
Aristotle changed his will to state that Jackie would only get $3 million (minimum under Greek law) as he tried to skirt Greek laws which require that a widow receive at least 1/8 of the estate. Aristotle set up various trusts to hold his interest in 30 companies which owned an interest in 100 ships so it would not go by his will to get around the Greek forced heirship law of a spouse getting at lease 1/8 of the estate. After his death, Jackie settled a lawsuit she filed against the estate for around $20-$25 million – she might have received lass had they gotten divorced under Greek law. It is likely what Aristotle’s trusts were helpful in achieving a settlement. The bulk of his estate went to Aristotle’s daughter. If they had divorced, Jackie would not have been entitled to any of his estate at death.
It should be noted that under Texas law, if your will named your spouse as your beneficiary, then a former spouse is not entitled to take of whereby your spouse is named as your beneficiary, then the former spouse is not entitled to take under the will of your divorced after the will was signed. However, if you get divorced and then name your former spouse as a beneficiary, then the former spouse could be a beneficiary. Similarly, divorce impacts other estate planning documents (powers of attorney, disposition of remains, etc.) and beneficiary designations (paid on death accounts, survivorship accounts, life insurance policy beneficiary and individual retirement accounts).
Whether there was a divorce prior to death or not made a tremendous difference in each case. The two cases also illuminate the differences in laws. Each state and each country have its own laws. The cases also highlight the need for pre-nuptial agreements and that trusts can be useful in estate planning. . .
If interested in learning more about this article or other estate planning, Medicaid and public benefits planning, probate, etc., attend one of our free upcoming Estate Planning Essentials workshops by clicking here or calling 214-720-0102. We make it simple to attend and it is without obligation.