Tag Archives: administrator duties

Petition Filed Seeking to Reopen Barnes Art Case

The Friends of the Barnes Foundation group is mounting a last-ditch effort to try to reverse the fate of one of the most valuable private art collections ever assembled.  Dr. Albert Barnes

The late Dr. Albert Barnes gathered together unmatched works of post-impressionist art, including paintings by Van Gogh, Renoir, Picasso, Monet and other masters.  It has not only been widely recognized as the greatest collection of its kind, but it’s been valued at more than 25 billion dollars.

Dr. Barnes created a very detailed Trust to maintain the collection in a private facility apart from the commercial art “elite,” which he despised.  Given the extraordinary value of the collection — both monetarily and artistically — perhaps it should be no surprise that the art elite of Philadelphia have done everything they can to get their hands on the collection.

In fact, Dr. Barnes’ Trust has been the subject of many years of litigation, which has  steadily chipped away at Dr. Barnes’ detailed instructions for how his art gallery was to be managed.  Read more...

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Malcolm X Estate: legacy tied up in family feud

Before he was assassinated in 1964, Malcolm X was a polarizing figure. He was revered by many as one of the greatest African-American figures ever, but was accused of racism and antisemitism by others. Perhaps it should not be surprising that his financial legacy is embroiled in conflict and strife. The resulting family feud has created a mess that has not been resolved for more than 14 years.

Malcolm X was born Malcolm Little, but became El-Hajj Malik El-Shabazz. His widow, Dr. Betty Shabazz, died tragically from severe burns she received in a fire in 1997, when she was 61. The fire was set by their 12-year old grandson.

No will of Dr. Shabazz was found, although some family members thought she had one. The probate court in New York overseeing her estate appointed two of the couple’s six daughters as the estate administrators.

While the estate was at one time valued at around $1.4 million, with the potential to earn much more, an unpaid tax debt has continued to Read more...

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New legal battle coming for Michael Jackson Estate

The Los Angeles Times had an interesting article this past weekend about the Michael Jackson Estate and a new legal hurdle it faces.  The King of Pop certainly didn’t do much to make it easy for his estate executors or his heirs.  This development could add new fuel to the fire between his family and the music executive and lawyer in charge of his estate and trust. Michael Jackson Trial and Heirs

As we’ve written extensively about before, Michael’s mother, Katherine Jackson was in a nasty fight with the executors over control of the estate last year.  That is, they were feuding until Katherine dropped the legal challenge and stepped aside.  In fact, according to the LA Times article, she now feels executors John Branca and John McClain are doing “a very good job”.

The problem is she believes that the cash allowance of $7,000 to $8,000 per month, which the pair gives her from the estate, is not enough.  While the estate also pays other expenses for her as well as Michael’s

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