Wills, Trusts & Estates Prof Blog

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

Sunday, September 29, 2013

Huguette Clark Settlement

Huguette-Clark-007

A settlement has been reached to divide Huguette Clark’s $300 million copper fortune.

Although Clark’s will specifically states her relatives should receive nothing, the deal gives them $34.5 million.  The settlement also sets up an art foundation, which controls the Clark’s $85 million Santa Barbara summer home.  

Clark’s nurse, Hadassah Peri, is the big loser in the settlement.  Peri received $31 million in gifts during Clark’s life and would have inherited approximately $30 million in Clark’s will.  However, under the settlement Peri will receive nothing from the will and has to pay back $5 million in gifts. 

Click here for a copy of the settlement documents.

See Bill Dedman, Huguette Clark’s $300 Million Copper Fortune Is Divided Up: Here’s the Deal, NBC News, Sept. 24, 2013.

https://lawprofessors.typepad.com/trusts_estates_prof/2013/09/huguette-clark-settlement.html

Current Affairs, New Cases, Wills | Permalink

TrackBack URL for this entry:

https://www.typepad.com/services/trackback/6a00d8341bfae553ef019affa927a3970b

Listed below are links to weblogs that reference Huguette Clark Settlement:

Comments

Post a comment