How Vernonica Hearst is coping with her inheritance

Veronica Hearst is the surviving spouse of Randolph "Randy" Apperson Hearst who was the son of newspaper tycoon William Randolph Hearst. 

Only blood relatives (not relatives by marriage) are entitled to benefit from a trust created by William.  However, her husband left her a large estate which has been dwindling rapidly due to her alleged lavish spending habits.  See A troubled house of Randolph Hearst, NY Daily News, Feb. 22, 2008. 

The following are some of the recent events relating to Veronica's financial situation:

• In February 2008, her 52-room Villa Venezia mansion in Manalapan sold at a foreclosure auction in Palm Beach County.  "The stunning property, once listed for sale at $27 million, was picked up for a bargain price of $22 million by New Stream Secured Capital, to which Hearst owed some $45 million in loans."  See Veronica Loses Her Villa, NY Post, February 26, 2008.
• In April 2008, she sold her co-op in New York City for about $30 million.  This will help pay the balance on her New Stream loan.  See Max Abelson, Noted Debtor Veronica Hearst Sells Upper East Side Co-op 'at Top Price', New York Observer, April 29, 2008.

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing these developments to my attention.