Monday, November 23, 2009
Last week, a jury in Houston needed less than an hour to decide that the last will of Alfred Glassell, Jr., was valid. Glassell's daughter had challenged the will on the ground that attorneys exerted undue influence upon her father when he changed the primary beneficiary of his estate to the Museum of Fine Arts in Houston.
Lou Ann Anderson, in an article entitled Jury rules to honor Houston oilman's estate wishes, Bell County Legal News Examiner, Nov. 17, 2009, uses Glassell's estate as an example of Involuntary Redistribution of Assets:
Estates have become a tool for Involuntary Redistribution of Assets (IRA) acts in which probate venues and/or probate instruments such as wills, trusts, guardianships and powers of attorneys are used to loot assets of the dead, disabled or incapacitated.For more information, see the article, which contains a discussion of IRA acts and solutions, numerous links, and examples of prominent estates involving IRA actions like reconfiguring the estate through estate administration and contesting a probate document in hopes of getting a lucrative settlement.
Special thanks to Jerry Cooper (TrustAdvisorBlog) for brining this to my attention.