After once being named a beneficiary in the will of L'Oreal heiress, Liliane Bettencourt, a French celebrity photographer is now being accused of abusing his relationship with the aging billionaire.

At 89 years old, Bettencourt is the richest woman in France, but due to her fading mental health was placed under the conservatorship of her family in October. The family has believed for some time that the photographer was abusing his relationship with the heiress.

The photographer was named a beneficiary in the woman's will in 2007, but was cut out earlier this year. Now, a French court has charged the photographer and his partner with exerting undue influence.

The photographer and the heiress met 42 years ago at a dinner party. In that time, the heiress gave the photographer extravagant gifts, including a masterpiece painting.

The photographer and his partner deny the accusations made against them and claim that the woman gave the gifts freely and without any undue influence. The two were released on bail after their arrest.

It is being reported that the heiress' estate is worth more than $20 billion.

Proper estate planning is critical for many families, but can be even more important for families with a vast amount of wealth. By properly planning an estate, a family can protect their valuable assets and ensure that they are distributed to the rightful beneficiaries.

In some cases, an emergency requires the need for a conservatorship so that the wishes of a family member who is unable to continue managing their affairs can be protected.

Source: The Sydney Morning Herald, "Photographer charged over L'Oreal Heiress," Dec. 15, 2011