Wills and probate news: Heiress' $500m fortune causes controversy

Wills and probate matters surrounding the estate of a reclusive heiress are causing controversy amongst her family members.

When Huguette Clark died recently at the age of 104 she left an estimated $500 million (£303 million) fortune, which included a $23 million home in the US state of Connecticut, a $100 million apartment in New York and a $100 million estate in California.

The Manhattan district attorney's office is looking into how her estate was managed after relatives expressed concern that her financial affairs could have been mismanaged.

Ms Clark passed away at a medical centre, where she had resided in seclusion for 22 years after severing relations with loved ones.

Family members believe that Ms Clark may have not fully comprehended financial decisions made on her behalf by her accountant Irving Kamsler and lawyer Wallace Bock.

It has not been revealed who she named as her beneficiaries when she decided to make a will.

In another case involving an heiress, Anthony Marshall was prosecuted for defrauding money from his mother Brooke Astor prior to her death in 2007.

Published by Hannah Carr