Within days of James Brown's death of heart failure on Christmas day in 2006 the first lawsuit was filed in an attempt to secure assets from his estate. Now a former record producer is engaged involved in another court case with Brown's children. The will contest is set to determine whether the Godfather of Soul intended that his children receive a significant portion of his assets or that they instead be used to fund charitable trusts for children.
In Brown's will he stated that if he failed to provide anything to his six children "such failure is intentional and not occasioned by accident or mistake." Indeed according to news reports he left his children only household items and personal effects and no substantial assets. But in 2009 the children came to a settlement agreement with the trustee of the estate. The agreement called for the children to receive one quarter of the assets, another quarter to go to a companion of Brown's who claimed to be his wife, and the remaining half to go to a trust that was substantially similar to the 'I Feel Good' trust named in the will.
The former record producer is attempting to invalidate this agreement between the children, the purported wife and the trustee. She claims that it does not accurately reflect Brown's wishes. She further claims that she was a joint creator of the 'I Feel Good' trust and as the surviving creator should have control over its assets.
While will contests can almost be expected when there is such a large estate with so many potential individuals who may have an interest, unfortunate disputes can arise in much more conventional estates as well. It is important to give your heirs as much clarity as possible for the time when your assets will pass on them.
Source: New York Post "James Brown's ex-producer fighting family over his estate" ISABEL VINCENT and MELISSA KLEIN, April 3, 2011
Comments: Leave a comment


No Comments
Leave a comment