Mar 12, 2024
Recently, the entertainment world has been abuzz with numerous high-profile conservatorship battles, and the latest to emerge involves iconic singer Cher. She has initiated a conservatorship petition concerning her son, Elijah Blue Allman, aiming to oversee the financial benefits he inherits from his father, the late Greg Allman's trust. Legal filings state the urgent need for a conservator to safeguard Elijah's estate against potential damages or losses, citing his inability to manage his finances due to significant mental health and substance abuse challenges. Tune into a new episode of Absolute Trust Talk for an in-depth analysis of this situation and to explore possible measures Greg Allman might have taken to avert such a conservatorship scenario.
Time-stamped Show Notes:
0:00 Introduction
1:09 Madison Gunn fills us in on the conservatorship case for Cher’s son, Elijah Blue Allman. In short, Cher is concerned Elijah will use his father’s trust money to feed his drug addiction.
2:24 Next, we look at how this conservatorship case differs from the others we’ve recently covered in that the others were to make sure someone with dementia could get the care they need.
3:14 Another major difference in this case is that Elijah Allman does not agree with the conservatorship and will contest it in court.
4:23 Estate Planning Lesson: Greg Allman likely knew of his son’s drug problem and could have put provisions in his trust for this possibility.
6:52 As we wrap up, we want to drive home this message: You can always plan ahead if you’re concerned about your child(ren)’s management of their portion of the trust.