Sunday, June 26, 2011

Huguette Clark's Will

A last will and testament for the reclusive copper heiress Huguette M. Clark was filed Wednesday afternoon in Surrogate's Court in New York City, leaving most of her $400 million fortune to charity — and $1 million to her financial advisers even as a criminal investigation of the handling of her money continues.

The nurse who took care of her for two decades will receive about $30 million after estate taxes. She had been randomly assigned by an agency to care for Clark in about 1991.

Not a dime was left to Clark's relatives, who are likely to challenge the will in court. Nothing was left to anyone associated with Butte, the Montana mining town where her father made his first millions in copper mining. And nothing goes to the various Clark charities that her father had established for women and orphans.

Clark's will leaves $500,000 to her attorney, $500,000 to her accountant (despite his felony conviction and status as a registered sex offender), both of whom are the subject of a criminal inquiry related to their handling of her finances. The will also names the men as her co-executors, making them eligible to collect fees for handling her estate.

A criminal investigation continues, with the Manhattan district attorney looking into her financial affairs, which are handled by attorney Wallace "Wally" Bock, 79, and her accountant, Irving H. Kamsler, 64, who pleaded guilty in 2009 to a charge of attempting to send indecent materials to minors.

Full Article and Source:
Heiress Huguette Clark's Will Leaves $1M to Advisors

See Also:
The Late Huguette Clark Victim of Elder Abuse?

3 comments:

Anonymous said...

This one should be more fun than the Astor case.

StandUp said...

I am glad she left most of her money to charity. I hope her wishes are followed.

Sue said...

People of wealth, power and privilege I hope you're reading this with great interest and asking yourselves ~ will society be reading your story here?