The latest guy assigned to protect Edward Abbott Ravenscroft walked into court Monday and counted the number of attorneys present.
"We've gotten it down from $3,000 to $1,500 (an hour)," attorney Mark Kennedy told me. "That's progress."
That is progress, given that Ravenscroft is footing the bill for every one of them. Just as it is progress that Ravenscroft has finally learned how much of his money his various probate protectors pocketed last year: $224,000.
The Scottsdale millionaire, a part of the Abbott pharmaceutical family, has been under the protection of Maricopa County's Probate Court since January 2009, after a series of drug arrests raised questions about his mental health and his vulnerability given the size of his bank account.
Ravenscroft no doubt needed help last year, having been in and out of jail and hospitals and drug treatment programs. But he's been clean since August and he wants to regain control of his money - or at least have a say in who handles his money, if someone else must handle it.
That, however, is apparently not going to happen without a fight.
For months, Ravenscroft has been trying to get free of his probate protectors. His court-appointed guardian bowed out in March, saying he was no longer needed. But the Sun Valley Group, which controls Ravenscroft's finances, has continued on, based on a finding by Dr. Jack Potts, a court-appointed psychiatrist, that he remains "incapacitated" when it comes to money.
Potts is also prepared to testify that Ravenscroft would be better off with someone other than Sun Valley handling his money. He just hasn't been given a chance to say so.
In recent months, there have been a number of hearings about who should oversee Ravenscroft's money, including hearings to determine if there should be hearings and even a hearing to set a date for a hearing - all attended by a legion of lawyers, all paid with Ravenscroft's money.
Now, finally, there is a glimmer of light.
A new judge, one from outside the probate court, has scheduled a series of hearings, including one Thursday on whether Ravenscroft can hire an attorney to sue his probate protectors - something he's already done. Then on May 26, Judge Hugh Hegyi will hold a hearing into whether Sun Valley should be replaced.
Full Article and Source:
Millionaire's Money at the Mercy of Court
10 comments:
Scottsdale millionaire,under protection of Maricopa County's Probate Court, after questions about his mental health and his vulnerability given the size of his bank account... says it all!
He's vulnerable let's steal his assets!!
It is nice to see that someone is realizing the real cost to the ward. My husband was being billed $500.00 an hour by his court appointed attorney because he needed to have a phantom attorney at every phone interview yet no one knew the person was on the phone, and then two other attorneys were billing at 250.00 so that is 1000.00 an hour.
Another victim is under the control of greedy lawyers. This is big business the pool of potential victims is huge. People have no idea what is waiting for them. They think they are safe, laws will protect them, they will be able to have control over their assets, homes and possessions.
This is by design to feed the guardianship racket with YOUR MONEY. I would rather burn everything I own because that's the only way to avoid this theft under color of law.
My deepest sympathies to Edward Abbott who never saw this coming.
God help us all........
Talk about the vultures circling!
Thank you, Laurie Roberts, for another great article and for your advocacy for Mr. Ravenscroft and Marie Long - and vulnerable people in general.
Abusive guardianships are always about money - the guardian at attorneys getting to the money, that is.
I feel awful for Mr. Ravenscroft and am glad to see this story followed.
Sun Valley replaced? No, they should be sent packing and Mr. Ravenscroft given his life back -- plus resitution from Sun Valley.
I hope Ravenscroft sues them all!
I have met this man, and he just needs to serious help. Very good man. Went and RAN to buy me water because I'm pregnant and was coughing. It makes me so angry when people take advantage of needy people.
Sadly, this man is still being abused all these years later...just at the hands of a different fiduciary. When will it end?
Post a Comment