How Ozzy’s family is torn apart with an inheritance of $ 230 million
The death of Ozzy Osbourne could be established to cause a bitter inheritance war on his estimated fortune of $ 230 million, Radaronline.com can reveal.
The heavy metal legend died on Tuesday 22 July, surrounded by family, weeks after a final performance with Black Sabbath. He leaves his wife, Sharon, 71 and six children: Aimee, 40; Kelly, 39; and Jack, 38, which he shares with Sharon, as well as son Louis, 49; Jessica, 51; and Elliot, 47, of his first marriage to Thelma Riley.
With assets about continents and decades of royalties that are still coming in, lawyers say that the battle for his estate can be long and divided.
“Ozzy’s legacy is complex,” said legal analyst Adam Jones, 54, of HD claims. “Although Sharon will probably inherit at least 50 percent, six children are involved, and all disputes can delay things for months.”
“Unless Ozzy has made clear regulations in a will or trust, the UK and the American laws would assume that his husband inherits the bulk, but all children would have a claim,” Jones continues. “In mixed families, this often leads to rows if things are not watertight.”
Sources also tell us that at stake is not only real estate and cash, but future income from the huge catalog of Ozzy. His wealth includes royalties of more than 100 million records sold, license rights on The Osbournes Reality -TV program and merchandise and brand agreements.
Jones added: “Future royalties will continue to roll, and how it can be split a bottleneck. These intellectual property rights are sometimes worth more in death than life.”
Those who are close to the family who are underlying tensions can now explode. A family friend, who spoke on condition of anonymity, said: “Ozzy always wanted peace in the family, but things have been tense behind closed doors for years.
“The money can blow it all up.”
The three oldest children of the rocker from his first marriage have been historically less visible in the public spotlights. Jessica and Louis have both kept low profiles, while Elliot is said to have a tense relationship with the family for decades.
Aimee also refused to appear in the reality TV program of the family. Kelly and Jack, on the other hand, became celebrities in themselves thanks to the MTV reality series that was broadcast from 2002 to 2005.
A source said: “This is when things can become messy and become public. If only one of the adult children of Ozzy feels excluded or treated unfairly, it can cause a fully-fledged legal battle.
“Celebrities, in particular those with different children and assets spread over countries, often become long and bitter disputes.”
The Osbourne family announced the death of Ozzy in a short explanation, with the text: “It is with more sadness than just being able to convey words that we must report that our beloved Ozzy Osbourne died this morning.
“He was with his family and surrounded by love. We are currently asking everyone to respect our family privacy. Sharon, Jack, Kelly, Aimee and Louis.”
An insider said: “While the tribute goes for the man De Prince of Darkness, legal experts warn that a struggle for his fortune can soon be central – possibly mourning and distributing the family he once worked to stay united.”
