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! 

One comment

  1. We all leave something behind — some great wealth and with it chaos, confusion and regret. This sad story is an example of a family that never mastered the meaning of wealth, neither its opportunities nor its limitations. Money for this family has diminished potential, not unlocked it. This family has created a legacy — just not a proud one.

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