The Estate of Huguette Clark: Potential Will Contest Ahead?
Yesterday I was chatting with opposing counsel in a trust litigation matter I’m handling. Both of us agreed that there are some interesting issues involved with the case, but we also agreed that we need to work together to resolve these issues (rather than go to court) because the trust just isn’t big enough for a major court battle. If we did go to court, opposing counsel and I would become the estate’s biggest beneficiaries, via the attorneys fees we’d receive.
Then there’s Huguette Clark, who died recently at the age of 104. She’s described in this article (which really is worth a read, as are the linked pages within) as a “reclusive copper heiress,” and the administration of her estate promises to be very interesting. Plus, given the size of her estate, there should be plenty of money — for better or worse — to pay for a lengthy court fight.
I assume we’re going to be talking about a Will contest — all of the signs are here:
1. Lots of money and property. Including:
[A]n estate alongside the Pacific Ocean in Santa Barbara, Calif., worth an estimated $100 million, which she had not visited since the 1950s; a country house in New Canaan, Conn., on the market for $23 million, which she expanded but never spent a night in; and the largest apartment on New York City’s Fifth Avenue, actually 42 rooms on the eighth and 12th floors, valued at about $100 million.
This estate is of interest since it involves a significant property in Santa Barbara. It will be interesting to see if it is made into a museum or if the family prevails in having the will thrown out.
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