AUSTIN, Texas — The Anna Nicole Smith estate saga is more than just a celebrity courtroom drama; it’s a cautionary tale with lessons for everyone, according to attorney John Levy.
Levy explained that probate, the court-administered distribution of assets after someone passes away, can be a lengthy and expensive process. “If you have a will, you have to go to probate. It’s an expensive process, can take up to 6 months or more, and it’s public,” he said.
The case of Anna Nicole Smith and J. Howard Marshall II is a prime example. Marshall, 86, married Smith, 29, but left most of his estate to his son, Pierce. Smith claimed Marshall promised her half of his estate, but the courts upheld the written will, leading to a 20-year legal battle that even reached the U.S. Supreme Court. Ultimately, the ruling did not favor Smith.
Levy emphasized the importance of having a clear, updated will. “Even billionaires like J. Howard Marshall show us the dangers of not updating a will after major life changes,” he said. “Verbal promises don’t hold up,” he added, noting that only written, properly executed documents are legally binding.
The emotional toll of probate battles can be devastating. “This case pitted a widow against her stepson and dragged on through multiple courts, bankruptcies, and two trips to the U.S. Supreme Court,” Levy said. “It’s a reminder that poorly planned estates can tear families apart.”…