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.
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...
Walt Disney World is a great vacation spot and a wonderful way to spend the holidays. We just returned from there with our three children. So it’s ironic that we recently learned about a messy court fight involving two of Disney’s grandchildren and their share of the massive Disney fortune.
Disney passed in 1966 at the age of 65. He left behind two daughters and 10 grandchildren. One of his two daughters, Sharon Mae Disney, had married and then divorced a real estate developer named Bill Lund. Lund was the man who located and helped select Orlando, Florida as the site for Disney World. Sharon and Bill had twins, born in 1970, named Michelle and Brad.
Sharon created trusts to pass on her share of the Disney fortune to her three children (her other child was from a prior marriage). Under the trusts, the twins were entitled to substantial distributions.
How substantial? In additional to yearly distributions of around one million dollars, they can each receive larger amounts, every 5 Read more...