Big Trouble for Annie Leibovitz

[jonh68]

I'm not sympathetic - I just don't care for people jumping on someone's back when they're not personally knowledgeable of all the circumstances (and Google searches wouldn't qualify). I personally don't have an affinity for her or find her work especially interesting, but lambasting her from afar on an internet forum isn't any more commendable than poor money management.

The article link that Julien provided says she inherited properties from Sonntag - why would you then say she didn't receive an inheritance?

Stating facts is hardly "lambasting". When you make as much as she does, coupled with reports from business associates, friends, and people she owed, a clear picture of bad financial planning emerges.

The reason I say that about the inheritance is because that has been shot down.

http://jezebel.com/5326583/why-is-annie-leibovitz-broke

http://www.nytimes.com/2009/08/02/fashion/02annie.html?pagewanted=2

 

[Retief]

The article link that Julien provided says she inherited properties from Sonntag - why would you then say she didn't receive an inheritance?

I tend to also like to do some "fact checking", so I looked beyond the link from Julien as well. THe links that Jon points out refute this, as does Fact Check the Leibovitz Bankruptcy, which also links to this Trusts and Estates 2005. Had the original blogger bothered to check facts, the "inheritance" issue would not be continuing. Unfortunately it is so much easier to just repeat things, rather than searching for the source.

Does someone have a source that refutes the Trust and Estates folks? I do have to admit that I have not tried to find the petition for probate filed with the New York County Surrogate's Court.

 

[Frits]

I am a big fan of Annie, I admire her photography and am inspired by it.
I have several of her books as well as the DVD "Life through a lens".

That is good enough for me and will remain as is.

Her personal life is none of my business nor do I feel qualified to scrutinize it as if it were.

 

[Julien]

Her personal life is none of my business nor do I feel qualified to scrutinize it as if it were.

Well said.

 

[wgilles]

"She has risked something worth quite a lot of money — her entire artistic legacy — in order to get a loan," he says.

That sums it up right there. That could have been the only sentence in the article and it would have made perfect sense. It's really a shame to see this happen.

 

[TomP]

A few bad judgements, some unfortunate events, and a crashing economy. In a way what's happening to her not that much different from what's happening to thousands of families who have to pawn off the family silver in order to pay the rent. Sad - whether it is Joe Sixpack or Annie Liebovitz.

You hit the truth on the head Bart. The past 2 years events, coupled with any unfortunate personal misfortune can easily equal a financial disaster.

 

[DanD]

Just because one is an excellent photographer does not mean that one is also an excellent business person. With her income, she definitely needed a good financial consultant (perhaps she had one). I cannot judge her photography as I have only cursory knowledge of Annie. But her financial decisions seem a bit to be desired...can't blame everything on the economy. Just my opinion...

 

[Ron Scubadiver]

Annie is not that different from a lot of folks, she just managed to do it on a much larger scale. As for selling the rights to her work, she only sold the financial benefits, the work will endure. I suspect her tax problems were magnified because her relationship with Susan Sontag was not recognized by the IRS. Ordinarily, when a spouse dies, there is no inheritance tax. No matter what anyone thinks of her living arrangements, its a tough break.

 

[Retief]

I suspect her tax problems were magnified because her relationship with Susan Sontag was not recognized by the IRS. Ordinarily, when a spouse dies, there is no inheritance tax. No matter what anyone thinks of her living arrangements, its a tough break.

What makes you think this is the case? Her relationship to Sontag had no bearing on this at all, read the links provided that show what she did get from the "inheritance".

It is fine to have sympathy for her, I most certainly do. But to be quite honest I have far more sympathy for the $40,000/year blue-collar worker who got stuck with a layoff and mortgage.

Regradless of who it is, or how much sympathy we may have, each of us still bears responsibility.

 

[five_oh_gold]

This had nothing to do with the economey. Bad financial decisions. Her studio costs were out of control. The renovations on the two Greenwich properties she owned were out of control. She got sued and had to buy the third and I'm sure there is a lot more. I respect her work and own one of her books. I don't care about her lifestyle. Bottom line, she signed the contract and knew what the outcome could be. Oh well.