Huguette Clark Planned Giving Nightmare Finally Winds Down

If you are interested in one of the most intriguing and perplexing planned giving tales (Planned Giving Nightmare from the pg professional perspective), do a quick google search on Huguette Clark (search this blog, too!). It is a story that spanned over a century, that started in the 1800’s and ended up being one of […]

Final, Final Chapter in Huguette Clark Story!!!

As readers of this blog know all too well, I have written many times on Huguette Clark – probably 20 or more blog posts (just do a search on my blog if you are interested). What we thought was the last piece of the story, the $30 million settlement (i.e. gift to go away) to […]

Huguette Clark’s $300 million copper fortune is divided up: Here’s the deal

Huguette Clark’s $300 million copper fortune is divided up: Here’s the deal

The final verdict on the Huguette Clark “planned giving” drama:  Her long lost relatives were ONLY out for the bucks from day one of this story and had the slimmest chances of winning.  The proof:  they accepted a paltry settlement for approximately 10% of the estate; if they had anything worthwhile, it would have been much more.  

As for my old employer – Beth Israel Medical Center – they get their $1 million bequest but could still face attacks for charitable gifts they received.  Pretty bitter sweet as their legal costs may be more than that and the institution did everything possible to ethically deal with Ms. Clark.

If you read the article, notice what the attorneys get and who pays!!!  That the is the story behind the story.  Us attorneys love estate litigation.  It just happens that it is “tax-wise” for the estate to pay everyone’s attorney fees.  Such cases would never happen if the challengers of the will had to risk actually having to pay their own attorneys.  What a sham! 

Lawyer and Accountant for Huguette Clark’s Estate Lose $8 Million Each Over Incompetance

Not much more to report on this ongoing estate saga with a planned giving twist except that their dreams of retiring to Belize just went up in smoke. See MSNBC’s latest update:  Judge Tosses Atty and Accountant  http://openchannel.msnbc.msn.com/_news/2011/12/23/9659274-judge-bounces-attorney-and-accountant-from-estate-of-heiress-huguette-clark That has to hurt – $8 mil. hit on both.  But it is becoming more and more apparent […]