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

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Friday, December 6, 2013

Clark Estate Getting Bigger

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JPMorgan Chase recently reported an unclaimed checking account in the name of the late copper heiress Huguette Clark.

Chase said the money was “not an insignificant” amount and will soon pour into Clark’s $300 million estate.  The estate’s attorney said it was a total mystery why Chase waited over two years after Clark’s death to report the unclaimed funds, but a Chase spokesman said it was the estate’s job to contact the bank.  The bank’s policy is to contact the client after the account has been inactive for over three years.

Whatever the amount is, the money will go to the Bellosguardo Foundation, the arts and cultural nonprofit at Clark’s Santa Barbara mansion.

See Julia Marsh, New Funds in ‘Lost’ Account of Late Heiress Huguette Clark, New York Post, Dec. 2, 2013.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/12/clark-estate-getting-bigger.html

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