HOWARD QUINN (SBN 198547) ELLIOT NGUYEN (SBN 321064) CALDERWOOD & HARKNESS LLP 350 South Grand Avenue, Suite 4800 Los Angeles, California 90071 Telephone: (213) 555-6200 Facsimile: (213) 555-6201
Email: hquinn@calderwoodharkness.com
Email: enguyen@calderwoodharkness.com
Attorneys for Petitioner Marguerite D. Fonseca
SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF LOS ANGELES — PROBATE DIVISION
Filed: October 5, 2022
PETITION FOR LETTERS OF ADMINISTRATION
I. INTRODUCTION AND PRELIMINARY STATEMENT
Marguerite Delphine Fonseca ("Petitioner"), the surviving spouse of Teodoro Raúl Fonseca ("Decedent"), by and through her attorneys of record, Calderwood & Harkness LLP, respectfully petitions this Honorable Court, pursuant to California Probate Code sections 8000 et seq. and sections 8460 through 8469, for the issuance of Letters of Administration appointing Petitioner as the administrator of the Estate of Teodoro R. Fonseca, Deceased (the "Estate").
Decedent died on September 3, 2022, at the age of sixty-two (62) years, a resident and domiciliary of Los Angeles County, California. At the time of his death, Decedent was married to Petitioner. A certified copy of the Certificate of Death of Teodoro R. Fonseca is attached hereto as Exhibit A and incorporated herein by this reference.
Decedent died intestate. Despite diligent search and inquiry by Petitioner, no valid last will and testament, codicil, trust instrument, or any other testamentary document executed by Decedent has been located. The circumstances of that diligent search are set forth more fully in Section III.C below and are supported by the Declaration of Petitioner Regarding Diligent Search for Testamentary Instruments, attached hereto as Exhibit D.
As the surviving spouse of Decedent, Petitioner is entitled to priority of appointment as administrator of the Estate under California Probate Code section 8461, subdivision (a). Petitioner is competent, qualified, and willing to serve in this capacity, and possesses extensive personal familiarity with the Decedent's assets, business affairs, and financial circumstances arising from the parties' approximately fourteen-year marriage and their joint involvement in significant business enterprises.
The estimated total value of the probate estate is approximately Seventy-One Million One Hundred Twelve Thousand Dollars ($71,112,000.00). The Estate includes substantial real property, business interests, financial accounts, intellectual property, and personal property, all of which require prompt administration to ensure their preservation, protection, and orderly distribution to the persons entitled thereto under the laws of intestate succession.
Petitioner therefore requests that this Court issue Letters of Administration in her favor, grant her authority to administer the Estate under the Independent Administration of Estates Act (California Probate Code sections 10400 through 10600), and provide such other and further relief as is just and proper under the circumstances.
II. JURISDICTIONAL FACTS
1. At the time of his death on September 3, 2022, Decedent was domiciled in Los Angeles County, California, where he had continuously resided for more than twenty (20) years. Decedent's primary residence was located at 1847 Coldwater Canyon Drive, Beverly Hills, California 90210, which address is within the territorial boundaries of Los Angeles County.
2. This Court has jurisdiction over this proceeding pursuant to California Probate Code sections 7050 through 7052, which vest the Superior Court with jurisdiction over proceedings concerning the estates of decedents, including the granting of letters of administration.
3. Venue is proper in the Superior Court for the County of Los Angeles pursuant to California Probate Code section 7051, which provides that proceedings for the administration of the estate of a decedent shall be commenced in the county in which the decedent was domiciled at the time of death. As set forth above, Decedent was domiciled in Los Angeles County at the time of his death, and accordingly, this Court is the proper venue for this proceeding.
4. No other petition for the probate of a will or for letters of administration concerning the Estate of Teodoro R. Fonseca has been filed in this Court or, to the best of Petitioner's knowledge, in any other court.
III. INFORMATION CONCERNING THE DECEDENT
A. Personal Information
5. Decedent's full legal name was Teodoro Raúl Fonseca. He was also known informally as "Teo Fonseca" in professional and social contexts, though all legal documents and records reflected his full legal name as stated herein.
6. Decedent died on September 3, 2022. The cause of death was cardiac arrest, which was determined to be from natural causes. No autopsy was required, and the manner of death was certified as natural by the attending physician.
7. Decedent was sixty-two (62) years of age at the time of his death, having been born on January 11, 1960.
8. Decedent's last known address, and his primary residence at the time of his death, was 1847 Coldwater Canyon Drive, Beverly Hills, California 90210.
9. Decedent was a film producer and media entrepreneur by profession. Over the course of his career, Decedent was involved in the production and financing of numerous motion pictures and television series. At the time of his death, Decedent served as the Chief Executive Officer and Managing Member of Lumiére Canyon Studios LLC, a California limited liability company he co-founded with Petitioner in 2009, and held a significant membership interest in Pacific Rim Narrative Partners LLC, a media investment vehicle. Decedent was widely regarded in the entertainment industry and maintained significant professional relationships and business interests throughout the Los Angeles metropolitan area.
B. Marital History
10. Decedent was first married to Claudette Marchetti (née Marchetti) in 1988. That marriage was dissolved by final judgment of dissolution entered in 2005 by the Superior Court of California, County of Los Angeles. Pursuant to the judgment of dissolution and related settlement agreements, Ms. Marchetti received a divorce settlement in the amount of Four Million Eight Hundred Thousand Dollars ($4,800,000.00) and a subsequent spousal support buyout in the amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) in 2007. To the best of Petitioner's knowledge and belief, all obligations arising from the dissolution of Decedent's first marriage have been fully satisfied and discharged. Ms. Marchetti currently resides at 3200 Laurel Terrace, Pasadena, California 91101.
11. Decedent married Petitioner, Marguerite Delphine Fonseca (née Marguerite Delphine Roux), on June 14, 2008, in Los Angeles County, California. It was Petitioner's first marriage and Decedent's second marriage. A certified copy of the Marriage Certificate of Teodoro R. Fonseca and Marguerite D. Fonseca is attached hereto as Exhibit B and incorporated herein by this reference.
12. Decedent and Petitioner remained married continuously from June 14, 2008, until the date of Decedent's death on September 3, 2022, a period of approximately fourteen (14) years. At no time during the marriage did either party file for legal separation or dissolution. The marriage remained intact and in good standing throughout its entirety.
C. Intestacy.
13. Despite diligent search and inquiry, no valid last will and testament, codicil, trust instrument, or any other testamentary document executed by Decedent has been located. Petitioner avers that Decedent died intestate within the meaning of California Probate Code section 6400.
14. The diligent search undertaken by Petitioner has included, but has not been limited to, the following:
(a) A thorough search of Decedent's primary residence at 1847 Coldwater Canyon Drive, Beverly Hills, California 90210, including all personal files, home office records, storage areas, and personal effects;
(b) A thorough search of Decedent's office at Lumiére Canyon Studios LLC, located at 4200 West Olive Avenue, Burbank, California 91505, including all business files, corporate records, and correspondence;
(c) Examination of the contents of Decedent's safe deposit boxes maintained at financial institutions, including Veltara Basin Bank, N.A.;
(d) Inquiry with Decedent's known attorneys, including prior counsel who represented Decedent in business transactions and personal legal matters, none of whom were aware of or had in their possession any testamentary instrument executed by Decedent;
(e) Inquiry with Decedent's business associates, including Victor Sandoval, the managing member of Pacific Rim Narrative Partners LLC, and senior officers of Crestline Media Group Inc., none of whom had knowledge of or possession of any testamentary instrument executed by Decedent; and
(f) Review of Decedent's personal correspondence, electronic files, email accounts, and other records for any reference to the preparation or execution of a will, trust, or similar instrument.
15. The foregoing search has produced no evidence whatsoever that Decedent executed any testamentary instrument at any time during his lifetime. Petitioner's Declaration Regarding Diligent Search for Testamentary Instruments, attached hereto as Exhibit D, sets forth the details and results of this search under penalty of perjury.
IV. IDENTIFICATION OF HEIRS AT LAW
Petitioner identifies the following persons as the heirs at law of Decedent, entitled to distribution of the Estate under the laws of intestate succession as set forth in California Probate Code sections 6400 through 6414:
A. Surviving Spouse
16. Marguerite Delphine Fonseca, age 54, residing at 1847 Coldwater Canyon Drive, Beverly Hills, California 90210. Petitioner is the surviving spouse of Decedent, having been married to Decedent on June 14, 2008, and having remained married to Decedent continuously until his death on September 3, 2022. In addition to her role as surviving spouse, Petitioner serves as the Chief Creative Officer of Lumiére Canyon Studios LLC, a company she co-founded with Decedent in 2009. Petitioner is an adult and is competent.
B. Children of the Decedent
Decedent is survived by three (3) children, all of whom are adults and competent. All three children are from Decedent's first marriage to Claudette Marchetti:
17. Rafael Teodoro Fonseca, age 33, residing at 502 Olive Avenue, Unit 3, Burbank, California 91502. Rafael is the eldest child of Decedent, born during Decedent's first marriage to Claudette Marchetti. He is currently employed as the Vice President of Development at Crestline Media Group Inc. Rafael is an adult and is competent.
18. Isabela Claudette Fonseca-Greer, age 30, residing at 78 Eucalyptus Lane, Santa Monica, California 90402. Isabela is the middle child of Decedent, born during Decedent's first marriage to Claudette Marchetti. She is married to Connor Greer and is a documentary filmmaker, currently serving as the principal of Amber Light Documentary Films LLC. Isabela is an adult and is competent.
19. Nicolás Raúl Fonseca, age 26, residing at 1190 Elm Street, Apt. 4B, Palo Alto, California 94301. Nicolás is the youngest child of Decedent, born during Decedent's first marriage to Claudette Marchetti. He is currently a graduate student residing in Northern California. Nicolás is an adult and is competent.
C. No Other Heirs
20. To the best of Petitioner's knowledge and belief, the foregoing persons — Marguerite D. Fonseca (surviving spouse), Rafael T. Fonseca, Isabela C. Fonseca-Greer, and Nicolás R. Fonseca (children) — constitute all of the heirs at law of Decedent.
21. Decedent had no other children, whether natural or adopted, whether born during his marriages or otherwise, other than the three children identified above.
22. No other persons are known to Petitioner to have claims as heirs of Decedent under the provisions of California Probate Code sections 6400 through 6414, and Petitioner is not aware of any other individuals who would take a share of the Estate by intestate succession.
V. DESCRIPTION OF ESTATE ASSETS
The following is a description of the known assets of the Estate, together with their estimated values as of the date of Decedent's death or, where noted, as of the most recent valuation available to Petitioner. A preliminary inventory of estate assets is attached hereto as Exhibit C. Petitioner reserves the right to amend or supplement this description as additional information becomes available during the course of administration.
A. Real Property
1. Beverly Hills Residence.
23. Property Address: 1847 Coldwater Canyon Drive, Beverly Hills, California 90210.
24. Description: The property is a single-family residence that served as the marital home of Decedent and Petitioner throughout their marriage. The residence includes the primary dwelling and associated grounds, improvements, and fixtures.
25. Estimated Fair Market Value: Eight Million Four Hundred Fifty Thousand Dollars ($8,450,000.00), based on preliminary comparable market analysis. A formal appraisal will be obtained during the course of administration.
26. Character of Property: Petitioner contends that this property is community property of Decedent and Petitioner, having been acquired and maintained during the course of their marriage with community funds and resources. The property was purchased during the marriage, and title was held jointly by Decedent and Petitioner.
2. Malibu Beach House.
27. Property Address: 27100 Pacific Coast Highway, Malibu, California 90265.
28. Description: The property is a beach-front residential property located along the Pacific Coast Highway in Malibu, California.
29. Date of Purchase: August 22, 2007, which was prior to the marriage of Decedent and Petitioner.
30. Original Purchase Price: Four Million Seven Hundred Fifty Thousand Dollars ($4,750,000.00).
31. Estimated Current Fair Market Value: Six Million Two Hundred Thousand Dollars ($6,200,000.00), based on preliminary comparable market analysis. A formal appraisal will be obtained during the course of administration.
32. Community Contributions: Although the property was acquired prior to the marriage, community funds contributed significantly to the property during the marriage. Specifically, community funds were used to finance a major renovation of the property completed in 2016 at a cost of approximately One Million Eight Hundred Thousand Dollars ($1,800,000.00), and community funds were used to make approximately One Hundred Forty-Two (142) monthly mortgage payments of approximately Fourteen Thousand Two Hundred Dollars ($14,200.00) each from joint accounts during the period from approximately June 2008 through the final payoff of the mortgage in approximately March 2020, totaling approximately Two Million Sixteen Thousand Four Hundred Dollars ($2,016,400.00) in mortgage payments from community funds.
33. Title Records: Title records for this property are maintained by Coastline Title & Escrow Co., 9401 Wilshire Boulevard, Suite 720, Beverly Hills, California 90212. The contact person at Coastline Title & Escrow Co. is Andrea Solis.
34. Character of Property: While the property was initially acquired by Decedent as his separate property prior to the marriage, Petitioner contends that she and the community have a community property interest in this property proportional to the community contributions made during the marriage, including the renovation expenditures and mortgage payments described above, pursuant to the principles set forth in In re Marriage of Moore (1980) 28 Cal.3d 366 and In re Marriage of Marsden (1982) 130 Cal.App.3d 426, or other applicable legal principles. The determination of the precise community and separate property interests in this asset will require further analysis during the course of administration.
B. Business Interests
1. Lumiére Canyon Studios LLC.
35. Entity Type: California limited liability company, California Secretary of State Filing Number 200906410337.
36. Date of Formation: March 18, 2009, during the marriage of Decedent and Petitioner.
37. Principal Office: 4200 West Olive Avenue, Burbank, California 91505.
38. Co-Founders: Decedent and Petitioner co-founded this entity.
39. Decedent's Membership Interest: Decedent held a fifty percent (50%) membership interest in Lumiére Canyon Studios LLC, as set forth in the Operating Agreement dated March 18, 2009.
40. Petitioner's Membership Interest: Petitioner holds the remaining fifty percent (50%) membership interest in Lumiére Canyon Studios LLC.
41. Valuation: The most recent internal valuation of Lumiére Canyon Studios LLC, conducted as of December 31, 2021, placed the enterprise value of the company at approximately Thirty-One Million Six Hundred Thousand Dollars ($31,600,000.00). Based on this valuation, the estimated value of Decedent's fifty percent (50%) membership interest is approximately Fifteen Million Eight Hundred Thousand Dollars ($15,800,000.00). Petitioner acknowledges that a formal, independent valuation of this interest will need to be obtained during the course of administration to determine its fair market value as of the date of Decedent's death.
42. Business Operations: Lumiére Canyon Studios LLC is engaged in film and television production. The company's intellectual property portfolio spans fourteen (14) feature films and six (6) television series. The company maintains ongoing production, distribution, and licensing activities.
43. Character of Property: Petitioner contends that Decedent's membership interest in Lumiére Canyon Studios LLC is community property, as the entity was formed during the marriage of Decedent and Petitioner, and the business was developed and operated using community labor, skill, and resources.
2. Pacific Rim Narrative Partners LLC.
44. Entity Type: California limited liability company, California Secretary of State Filing Number 201518720492.
45. Date of Formation: 2015, during the marriage of Decedent and Petitioner.
46. Principal Office: 8455 Beverly Boulevard, Suite 310, Los Angeles, California 90048.
47. Managing Member: Victor Sandoval serves as the managing member of Pacific Rim Narrative Partners LLC.
48. Decedent's Membership Interest: Decedent held a thirty-five percent (35%) membership interest in Pacific Rim Narrative Partners LLC.
49. Assets Under Management: The fund manages assets totaling approximately Seventy-Eight Million Five Hundred Thousand Dollars ($78,500,000.00).
50. Estimated Value of Decedent's Interest: Based on the assets under management, the estimated value of Decedent's thirty-five percent (35%) membership interest is approximately Twenty-Seven Million Four Hundred Seventy-Five Thousand Dollars ($27,475,000.00). Petitioner acknowledges that the actual fair market value of this interest may differ and will need to be determined through a formal, independent valuation during the course of administration, taking into account any applicable discounts, obligations, or other factors affecting value.
51. Business Operations: Pacific Rim Narrative Partners LLC operates as a media investment vehicle, investing in content creation, production, distribution, and related media ventures.
52. Character of Property: Petitioner contends that Decedent's membership interest in Pacific Rim Narrative Partners LLC is community property, as the interest was acquired during the marriage of Decedent and Petitioner and was funded and developed using community resources.
C. Financial Accounts at Veltara Basin Bank, N.A.
53. Decedent and Petitioner maintained financial accounts at Veltara Basin Bank, N.A., located at 700 South Hope Street, Los Angeles, California 90017. The relationship manager for these accounts is Franklin Ybarra. The following accounts have been identified:
1. Brokerage Account.
54. Account Number Ending: -4782.
55. Description: Investment portfolio consisting of equities, fixed-income securities, and other investment holdings.
56. Estimated Value as of Date of Death: Five Million One Hundred Twenty Thousand Dollars ($5,120,000.00).
2. Personal Checking Account.
57. Account Number Ending: -3091.
58. Description: Operating and personal checking account used by Decedent and Petitioner for day-to-day living expenses and personal transactions.
59. Estimated Value as of Date of Death: Three Hundred Forty-Two Thousand Dollars ($342,000.00).
3. Money Market Account.
60. Account Number Ending: -6155.
61. Description: Cash reserves held in a money market account for liquidity purposes.
62. Estimated Value as of Date of Death: One Million Eight Hundred Seventy-Five Thousand Dollars ($1,875,000.00).
63. Total Financial Accounts: The aggregate estimated value of all financial accounts at Veltara Basin Bank, N.A. is Seven Million Three Hundred Thirty-Seven Thousand Dollars ($7,337,000.00).
64. Character of Property: Petitioner contends that all financial accounts identified above are community property of Decedent and Petitioner, having been funded with community earnings and maintained during the marriage.
D. Intellectual Property Portfolio
65. Description: Decedent held interests in royalty streams and residual payments generated by fourteen (14) feature films and six (6) television series produced by or through Lumiére Canyon Studios LLC and related entities. These royalty and residual streams include domestic and international theatrical distribution, home entertainment, streaming and digital distribution, broadcast licensing, and ancillary merchandising revenues.
66. Estimated Net Present Value: Four Million Six Hundred Thousand Dollars ($4,600,000.00), based on preliminary internal analysis. A formal, independent valuation of these intellectual property interests will be obtained during the course of administration.
67. Character of Property: Petitioner contends that the intellectual property portfolio is community property, as the intellectual property was generated during the marriage through the joint efforts and community labor of Decedent and Petitioner in connection with the operations of Lumiére Canyon Studios LLC and related ventures.
E. Personal Property
68. Description: The Estate includes various items of tangible personal property, including but not limited to an art collection, motor vehicles, household furnishings, jewelry, electronics, and other personal effects.
69. Estimated Value: One Million Two Hundred Fifty Thousand Dollars ($1,250,000.00). A detailed inventory and formal appraisal of the personal property will be obtained during the course of administration.
70. Character of Property: Petitioner contends that all personal property identified above is community property, acquired during the course of the marriage with community funds.
F. Non-Probate Assets (Life Insurance)
71. The following assets are identified for informational purposes and completeness of the Court's understanding of the Decedent's overall financial picture. These assets are not part of the probate estate, as they are contractually payable directly to the named beneficiary upon the death of the insured and therefore pass outside of probate.
1. Term Life Insurance Policy.
72. Carrier: Meridian Mutual Life Insurance Co.
73. Policy Number: GH-TL-2019-05582.
74. Death Benefit: Three Million Dollars ($3,000,000.00).
75. Named Beneficiary: Marguerite D. Fonseca.
76. Broker: This policy was brokered by Garnet Hill Insurance Brokerage Inc., located at 1230 Rosecrans Avenue, Suite 400, Manhattan Beach, California 90266. The contact person is Paul Rennert.
2. Whole Life Insurance Policy.
77. Carrier: Commonwealth Fidelity Assurance Corp.
78. Policy Number: GH-WL-2014-01247.
79. Death Benefit: Two Million Dollars ($2,000,000.00).
80. Named Beneficiary: Marguerite D. Fonseca.
81. Broker: This policy was also brokered by Garnet Hill Insurance Brokerage Inc. at the address listed above.
82. Total Non-Probate Life Insurance Proceeds: Five Million Dollars ($5,000,000.00). These proceeds are excluded from the total probate estate value as non-probate assets.
G. Summary of Estimated Probate Estate Value
83. The following table summarizes the estimated value of all known probate assets of the Estate as of the date of Decedent's death:
84. The life insurance proceeds of Five Million Dollars ($5,000,000.00) described in Section V.F above are excluded from the probate estate total as they are non-probate assets payable directly to the named beneficiary.
85. Petitioner acknowledges that the values set forth above are preliminary estimates and that formal, independent appraisals and valuations will be obtained during the course of administration, as required by law.
VI. PETITIONER'S ENTITLEMENT TO APPOINTMENT AS ADMINISTRATOR
A. Statutory Priority
86. Under California Probate Code section 8461, when a decedent dies intestate, the surviving spouse of the decedent is entitled to first priority for appointment as the administrator of the estate. Section 8461, subdivision (a) provides that the surviving spouse "or the surviving spouse's personal representative" shall be appointed as administrator, absent disqualification or other compelling circumstances.
87. Petitioner is the surviving spouse of Decedent, having been married to Decedent continuously from June 14, 2008, until the date of Decedent's death on September 3, 2022. As established above, no valid testamentary instrument has been located nominating an executor or other personal representative. Accordingly, no person holds a nomination from Decedent that would take priority over Petitioner's statutory entitlement.
88. Petitioner is therefore entitled to priority appointment as administrator of the Estate pursuant to California Probate Code section 8461, subdivision (a).
B. Qualifications of Petitioner
89. Petitioner is an adult resident of the State of California, currently residing in Los Angeles County. Petitioner is a citizen of the United States.
90. Petitioner is competent to serve as administrator of the Estate. Petitioner has not been convicted of a felony, has not been found by any court to be incapacitated or incompetent, and is under no legal disability that would prevent her from serving in this capacity.
91. Petitioner has extensive personal familiarity with the Decedent's assets, business affairs, and financial circumstances. This familiarity arises from Petitioner's approximately fourteen-year marriage to Decedent, during which the parties jointly managed their household, finances, and significant business enterprises. In particular, Petitioner serves as the Chief Creative Officer and co-founder of Lumiére Canyon Studios LLC, one of the Estate's most significant assets. Petitioner's role in the company's operations has given her direct, hands-on knowledge of its financial condition, contractual obligations, intellectual property portfolio, and ongoing business activities. This knowledge and experience will be invaluable in the administration of the Estate.
92. Petitioner is willing and able to serve as administrator and to comply with all duties imposed by law upon an administrator, including the duties of loyalty, care, and accountability to the Court and to all persons interested in the Estate.
C. Surviving Spouse's Rights Under Intestate Succession
93. Petitioner respectfully brings to the Court's attention the following provisions of California law governing intestate succession, which are relevant to Petitioner's interest in the Estate and to her motivation and capacity to serve faithfully as administrator:
94. Under California Probate Code section 6401, subdivision (a), the intestate share of the surviving spouse from the community property is the one-half of the community property that belongs to the decedent. This means that, with respect to community property, the surviving spouse retains her own one-half interest and receives the decedent's one-half interest, resulting in the surviving spouse receiving the entirety of the community property.
95. Under California Probate Code section 6401, subdivision (c)(3), if the decedent is survived by more than one child (or issue of one or more deceased children), the surviving spouse receives one-third (1/3) of the decedent's separate property, with the remaining two-thirds (2/3) passing to the decedent's children in equal shares.
96. In the present case, Decedent is survived by his spouse (Petitioner) and three (3) children. Petitioner contends that substantially all of the Estate assets are community property, having been acquired, earned, or accumulated during the marriage. If Petitioner's characterization of the assets is correct, then Petitioner would be entitled to receive the entirety of the community property estate — comprising both Petitioner's own one-half community interest and Decedent's one-half community interest, which passes to the surviving spouse under section 6401(a). The character of the Malibu Beach House will require further analysis given that it was acquired prior to the marriage, but community contributions during the marriage create a community interest in that property as well.
97. Petitioner's substantial interest in the Estate further supports her appointment as administrator, as she has a direct and powerful incentive to preserve, protect, and maximize the value of the Estate's assets for the benefit of all interested parties.
VII. NEED FOR ADMINISTRATION
98. The Estate requires administration for the following reasons, among others:
(a) Identification, Collection, and marshaling of Assets. The Estate includes a diverse and substantial array of assets, including real property, business interests in two limited liability companies, financial accounts, intellectual property, and personal property. These assets must be identified, collected, and marshaled by an administrator with appropriate authority to act on behalf of the Estate.
(b) Determination of Community and Separate Property Character. Several of the Estate's assets raise questions regarding their character as community property, separate property, or a combination thereof. In particular, the Malibu Beach House, which was acquired prior to the marriage but received substantial community contributions during the marriage, requires careful analysis to determine the respective community and separate property interests. An administrator is needed to undertake this analysis in conjunction with legal counsel and to present the results to the Court as appropriate.
(c) Preservation and Protection of Estate Assets. The Estate includes ongoing business interests in Lumiére Canyon Studios LLC and Pacific Rim Narrative Partners LLC. These businesses require active management, decision-making, and oversight to preserve their value and protect the interests of the Estate and its heirs. Without the appointment of an administrator, there is a risk that these business interests may suffer loss of value, disruption to operations, or other harm. Additionally, the real property holdings, financial accounts, and intellectual property of the Estate require ongoing attention to ensure their preservation.
(d) Formal Appraisals and Valuations. Formal, independent appraisals and valuations must be obtained for the Estate's business interests, real property, intellectual property, and personal property. The preliminary values set forth in this Petition are estimates only, and the Court and the heirs are entitled to accurate, professionally determined values for all assets.
(e) Financial Reconciliation and Tax Filings. The Estate requires comprehensive financial reconciliation, accounting, and the preparation and filing of all required tax returns, including federal and state estate tax returns and fiduciary income tax returns. Petitioner intends to coordinate these matters with Ridgeway Accounting Partners LLP (contact: Dennis Chua, CPA), located at 515 South Flower Street, Suite 3600, Los Angeles, California 90071, which firm has familiarity with Decedent's financial affairs and the business operations of Lumiére Canyon Studios LLC.
(f) Management of Ongoing Business Operations. As noted, Lumiére Canyon Studios LLC is an active business with ongoing production, distribution, and licensing activities. The appointment of an administrator is necessary to ensure the continuity of these operations, to authorize necessary business decisions, and to manage Decedent's membership interest in the company pending distribution of the Estate.
(g) Payment of Valid Debts and Expenses. The Estate may have outstanding debts, obligations, and expenses of administration that must be identified, evaluated, and paid. An administrator is needed to receive and evaluate creditor claims, pay valid debts, and manage the expenses of administration.
(h) Distribution of Estate Assets. Ultimately, the assets of the Estate must be distributed to the persons entitled thereto under the laws of intestate succession. The appointment of an administrator is a necessary prerequisite to the orderly distribution of the Estate.
VIII. WAIVER OF BOND OR ALTERNATIVELY REQUEST FOR MINIMAL BOND
99. Petitioner respectfully requests that this Court waive any bond requirement for her appointment as administrator of the Estate, pursuant to its discretion under applicable provisions of the California Probate Code.
100. In the alternative, if the Court determines that a bond is required, Petitioner respectfully requests that the Court set the bond at the minimum amount permitted by law, taking into consideration the factors set forth below.
101. Petitioner is the surviving spouse of Decedent and the primary heir of the Estate. As set forth in Section VI.C above, Petitioner contends that substantially all estate assets are community property, and accordingly, Petitioner's interest in the Estate is substantial and paramount.
102. Petitioner has a direct and powerful personal interest in the preservation and protection of the Estate's assets. As the primary beneficiary of the Estate, Petitioner stands to benefit most from the faithful and prudent administration of the Estate, and she has no incentive to mismanage or waste Estate assets.
103. Setting a bond proportional to the estimated probate estate value of Seventy-One Million One Hundred Twelve Thousand Dollars ($71,112,000.00) would impose a significant and unnecessary financial burden on the Estate. The premium costs associated with a bond of that magnitude would reduce the assets available for distribution and would serve no meaningful protective purpose given Petitioner's substantial personal interest in the Estate.
104. Petitioner is willing to provide the Court with periodic accountings and such other protections as the Court deems appropriate in lieu of a full bond.
IX. NOTICE
105. Notice of the filing and hearing of this Petition will be given as required by California Probate Code sections 8110 and 1220, and all other applicable provisions of law, to all known heirs at law of Decedent, including the following persons:
(a) Rafael Teodoro Fonseca, 502 Olive Avenue, Unit 3, Burbank, California 91502;
(b) Isabela Claudette Fonseca-Greer, 78 Eucalyptus Lane, Santa Monica, California 90402;
(c) Nicolás Raúl Fonseca, 1190 Elm Street, Apt. 4B, Palo Alto, California 94301.
106. In addition, notice will be provided to Claudette Marchetti, 3200 Laurel Terrace, Pasadena, California 91101, as the Decedent's former spouse and the mother of all three of Decedent's children, to the extent required by law or as the Court deems appropriate under the circumstances.
107. Publication of notice of this Petition will be made as required by California Probate Code section 8120 and other applicable provisions of law, in a newspaper of general circulation in Los Angeles County, California.
X. PRAYER FOR RELIEF
WHEREFORE, Petitioner Marguerite D. Fonseca respectfully prays that this Court enter an order as follows:
1. Letters of Administration. That the Court issue Letters of Administration to Marguerite D. Fonseca, appointing her as the duly authorized administrator of the Estate of Teodoro R. Fonseca, Deceased;
2. Independent Administration of Estates Act Authority. That the Court grant Petitioner full authority to administer the Estate under the Independent Administration of Estates Act, California Probate Code sections 10400 through 10600, including authority to act with full authority under section 10503, or in the alternative, with limited authority under section 10502;
3. Bond Waiver or Minimal Bond. That the Court waive the bond requirement for Petitioner's appointment as administrator, or in the alternative, set the bond at the minimum amount permitted by law;
4. Hearing Date. That the Court fix a date for the hearing on this Petition and authorize the issuance of all required notices in connection therewith; and
5. Further Relief. That the Court grant such other and further relief as it deems just and proper under the circumstances.
XI. VERIFICATION
I, Marguerite D. Fonseca, am the Petitioner in this matter. I have read the foregoing Petition for Letters of Administration and know the contents thereof. The matters stated therein are true of my own knowledge, except as to those matters which are stated upon information and belief, and as to those matters, I believe them to be true.
I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct.
Executed at Beverly Hills, California, on October 5, 2022.
________________________________________
MARGUERITE D. FONSECA Petitioner
ATTORNEY SIGNATURE BLOCK
CALDERWOOD & HARKNESS LLP
By: ________
Name: Howard Quinn
State Bar No.: 198547
Title: Partner
Date: October 5, 2022
By: ________
Name: Elliot Nguyen
State Bar No.: 321064
Title: Associate
Date: October 5, 2022