Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Sunday, March 18, 2007

Lillian Glasser Decision

GlasserEarlier on this blog, I reported on the case of Lillian Glasser and the battle to control her and her $25 million fortune.  See here, here, here, here, here, and here.

On March 8, 2007, the Superior Court Of New Jersey, Chancery Division – Probate Part Middlesex County issued its opinion.

Here are some of the highlights of this lengthy (82 page) opinion:

  • Lillian's daughter, Suzanne Mathews, must return approximately $20 million to Lillian.
  • Lillian's earlier will which leaves her estate equally to her two children (Suzanne Mathews and Mark Glasser) remains effective.
  • A purported later will which Lillian executed with Suzanne's assistance will be ineffective.
  • Lillian is deemed incapacitated and Joseph Cantanese is appointed as her new guardian of the person and Neuberger Berman (a financial planning firm) as guardian of her estate.
  • The judge severely criticized Suzanne's conduct determining that she breached fiduciary duties, exerted undue influence over Lillian, and was untruthful with the court.
  • Although the judge determined that Mark acted in good faith to assist Lillian, the judge was critical of Mark's "take no prisoners" tactics and his "less than candid" testimony.

According to Zeke MacCormack, Daughter ordered to repay millions, San Antonio Express-News, March 15, 2007, Mark has "heard talk of an appeal."

Special thanks to James Woo (Davidson & Troilo, San Antonio, Texas) for being the first person to bring the Glasser opinion to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2007/03/lillian_glasser.html

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Comments

I am now learning more about the Lillian Glasser Case and Decision. My family is currently undergoing a similiar interstate problem of guardianship, but now what is worse is that my oldest sister who kidnapped my father a year ago is in hiding and we cannot locate her or my father. This has put a halt to all efforts in the guardianship proceeding. I am currently looking for any and all assistance I can find to help our family. Unfortunately, we have no more finances remaining to fight for my father unlike the Glasser case where funds were not an issue. There is less individuals willing to help when there is no money to be gained. We are surviving on hope that we find my father and that justice will be served to my sister. If you know anyone that could help our situation, please contact me by email. THank you.

Posted by: Chrystya | Jun 25, 2007 4:13:25 PM

Please someone, PLEASE STOP THIS MADNESS. It is a crime against the elderly and their families to have such a system. Who created this monster where power of attorneys are tossed out the window and trusts are broken with the stoke of a pen.

Follow the money and it is the lawyers who are making a killing at the expense of the incapacitated. Sure you can blame the kids for arguing, but then again all families disagree and especially about where Grandma should live. This is common but two wrongs do not make a right.

what about the taxpayers that pick up the tab in the end with Medicare, Medicaid and Social Security. Do they get a say? I say it is time and way past time for laws with teeth in them.

My mothers life is destroyed and she is supported by the taxpayers for two years now while the nightmare in my life goes on. I am deep in debt. I am not and heir and never was so the greedy kid tactic did not stick with me. She was suffering immensely in a private home and APS sent me to a guardianship court to get help. She is alive I believe because of my efforts but I have been libeled, slandered and made out to be a bad person.

I though we were innocent until proven guilty in this land but not in guardianships. In guardianships if you are a family petitioner you are guilty until proven innocent except you never get a day in court.

shame of everyone who allows this and feeds off it.

I am happy to share my nightmare to those who might want to learn just how bad it can get but it should never cost and elderly person all of their estate, the family guardians tens of thousands and end up with the family guardian (who finally got appointed when the money was gone) and result in a personal lawsuit against the gaurdian for the unpaid guardianship legal fees when the money runs out. My case entails stolen assets, a judgment for recovery that the guardian was prevented from collecting while she got sued for the legal fees ordered to be paid from the recovered assets.

that takes the cake.
stopelderabuse@gmail.com

Posted by: stopelderabuse | May 16, 2009 7:01:29 PM

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