Huguette Clark Estate Battle Heading to Court - New York Estate Planning News

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Huguette Clark Estate Battle Heading to Court

The late Huguette Clark's estate is in controversy. The reclusive New York heiress left a $300 million embattled estate, reports The Huffington Post.

The battle is between members of Clark's extended family and several close parties, including her medical providers. Now, the fight is heading to court.

Huguette Clark passed away in May 2011 in New York City. Her family had amassed a substantial fortune in the copper industry and was instrumental in founding the city of Las Vegas. Huguette lived much of her live in one of the largest homes on Fifth Avenue, reports HuffPo.

Her estate consists of the following assets, according to NBC News:

  • A Santa Barbara, Ca. beach house valued at $84.5 million;
  • Three apartments on Fifth Avenue in Manhattan. The combined value of these apartments is $53 million;
  • Her country home in New Canaan, Conn., valued at $14.3 million;
  • Stocks, bonds, cash and trusts totaling $79.3 million;
  • Other property, including paintings and collections, valued at $75.4 million.

The battle over her estate centers over the two wills she allegedly signed. One will left $5 million to her private nurse Hadassah Peri, reports NBC, leaving the residue to intestacy. The intestate distribution gave the residue of her estate to distant relatives from her father's first marriage.

The second will expressly disclaimed any family members, as she claimed she'd had no contact with them. Will No. 2 left much of her estate to her doctors, lawyers and to a foundation. The family members are now contesting the will, claiming that it was a forgery.

As the estate heads for court, there are many questions pertaining to the management of her assets, specifically by her attorney and accountant.

The Elder Abuse Unit of New York County is running an investigation on the management of Clark's estate.

This promises to be an epic estate battle.

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