Stage is set for Huguette Clark estate battle (NY)

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Attorneys for relatives of the late Huguette Clark are preparing to challenge the reclusive copper-mining heiress’ will.  This estate battle will take place in the Manhattan Surrogate’s Court as relatives from Clark’s father’s first marriage seek to overturn a will in which Clark excluded family members while providing generously for her nurse, attorney and accountant.  Handling of Clark’s financial affairs is additionally being questioned as Clark’s attorney, Wallace “Wally” Bock, and her accountant, convicted felon Irving Kamsler, are subjects of a criminal investigation being conducted by the Manhattan district attorney.

MSNBC Investigative Reporter Bill Dedman has written extensively on this case.  Here’s his most recent report:

NEW YORK — More than $3 million dollars on dolls. Nearly $2 million to her attorney’s favorite charity. Another $380,000 in checks written to the staff on a single day, just as the press started to ask questions. And a magic bottomless checking account with $43 million to spend.

These details emerge from court documents filed in the early stages of a legal battle over the $400 million copper-mining fortune of the late reclusive heiress Huguette Clark. The documents give us new glimpses into the life of one of America’s richest and oddest families. And they raise new questions about the actions of her attorney and accountant, who remain under criminal investigation even after her death in May at 104.

Read more here.

Attribution:

The 1 percent of the 1 percent: How Huguette Clark’s millions were spent
Bill Dedman
November 19, 2011
msnbc.com
http://openchannel.msnbc.msn.com/

Clark spent extravagantly on dolls and other indulgences as well as paid to maintain vacant houses.  If done of her own accord, so be it.  The money was hers to do with as she pleased.  Things become murky, however, when spending patterns are reviewed in light of increased control by the attorney and accountant.

Check out this latest piece by Bill Dedman.  An interesting legal action is undoubtedly ahead.

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