Wills, Trusts & Estates Prof Blog

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

Wednesday, February 25, 2015

Ernie Banks Estate Worth $16,000

Ernie BanksWhen Chicago Cubs legend Ernie Banks passed away, he had assets worth $16,000.  Cook County Probate Judge James Riley gave his caregiver, Regina Rice, thirty days to provide a full accounting of Banks’ estate at the time of his death last month. 

I have previously discussed the battle between Rice and Banks’ estranged wife, Elizabeth Banks, over what should be done with Ernie Banks’ remains and who should inherit his estate.  Elizabeth Banks prevailed with the remains, having them buried at a cemetery a few blocks from Wrigley Field.

Banks is now contesting a will that her husband signed in October, without her knowledge, that specifies all his assets should go to Rice.  Ernie Banks’ two sons will also contest the will.

At a short hearing yesterday, Elizabeth Banks’ attorneys were surprised that Rice’s attorney’s estimate of Ernie Banks’ estate was worth only $16,000.  This prompted Judge Riley to order Rice to provide documentation about the assets.  Moreover, Rice must seek the judge’s permission before selling any of the estate’s assets.

See Lawyer Says Ernie Banks Assets Worth $16,000, Associated Press, Feb. 24, 2015.

https://lawprofessors.typepad.com/trusts_estates_prof/2015/02/ernie-banks-estate-worth-16000.html

Estate Administration, Estate Planning - Generally, Guardianship, Wills | Permalink

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