An MGM mogul who passed away in 2015 donated the bulk of his estate to assorted charitable organizations. Worth several billion dollars, the estate was to be dispersed within three years of the mogul’s death. However, the fallout from the man’s past love life and four marriages are keeping the estate hanging in limbo. In California, it may fall upon the courts and a judge to determine the property division of the estate.
A daughter, who turned 18 in 2016, filed an appeal and was able to increase her original trust from 7 million to 8.5 million. This represents merely a small portion of the overall estate. The man’s current wife, who signed a waiver relinquishing all rights when he died, is now asking the courts for one-third of the estate.
The mogul’s business partner was entrusted with 10 million dollars with clear instructions on how to provide for the man’s wife. The surviving widow contends that the agreement was unsigned and that her husband was not able to make clear decisions based on his advanced age and the surrounding influences. According to an appeals court, the executor has the right to challenge the wife’s demands on the estate.
With millions of dollars at stake, it may end up in a courtroom for a judge to decide whether a trial is necessary. Those who are at odds about property division after one’s death may benefit from speaking with an attorney. In California, a lawyer who has a vast knowledge of estate settlement can offer suggestions and guidance through the legal process.
Source: hollywoodreporter.com, “The Battle Over MGM Mogul Kirk Kerkorian’s $2 Billion Estate”, Eriq Gardner, Feb. 14, 2018