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Martin Luther King's Children Sue Brother Dexter
by duo | July 11, 2008 at 07:55 pm | 572 views | 4 comments
by CJaye
Bernice King has filed a lawsuit against her brother, Dexter, alleging that he failed to keep his siblings properly informed of the proceeds from their parents estates and is mismanaging funds.
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The Atlanta Journal-Constitution
07/11/08
MLK'S KIDS SUE BROTHER, FATHER'S ESTATE
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This is an unfortunate development. One would hope that families could come together and resolve differences after the death of loved ones without the necessity of lawsuits and other unpleasantness. However, many families have trouble resolving disputes over estates.
In recent years, the public has witnessed disagreements after the deaths of a number of public figures, i.e., Anna Nicole; James Brown; Australian actor, Heath Ledger; and Brooke Astor, the aristocrat who spent her long life giving away millions of dollars; the Shoen family, which ran and owned U-Haul; and probably the most extreme example is the Gucci family. Maurizio Gucci, third-generation leader of the fashion business, was shot dead on his way to the office in 1995. Gucci’s hit was ordered by his ex-wife, Patrizia, as retaliation for selling his 50% stake, which deprived their kids of inheritance assets.
So the King family certainly is not the first or worse example of family disagreements over estates. Hopefully, they will have a speedy resolution.
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UPDATED: July 12, 2008
By Ernie Suggs, Bob Keefe
Cox News Service
DEXTER KING CALLS LAWSUIT FALSE, RECKLESS
http://www.ajc. com/metro/ content/metro/ atlanta/stories/ 2008/07/12/ dexter_king_ lawsuit.html? cxntlid=homepage _tab_newstab
Relatives of Martin Luther King Jr. claim Dexter is mismanaging family funds
MALIBU , Calif. — Dexter Scott King said Saturday that he was "shocked" by a recent lawsuit filed by his siblings accusing him of mismanaging money in one family account and taking money for his own personal use out of another.
"It totally blindsided me. I think maybe it was a reckless attempt to express their grievances."
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BET.com reports that Bernice King's attorney is none other than Jock Smith, Esq.
BlackSpeakers.com - Jock Smith, Black Lawyer and Attorney
African American lawyer and speaker who upholds Johnny's legacy as The Cochran Firm's national president. . . Partner at the Firm, Jock Smith has obtained . . .
www.blackspeakers.com/profiles/jock_smith_attorney_cochran_firm.html
Read more about The Cochran Firm at my website: http://wrongfuldeathoflarryneal.com
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Pray for us: for we trust we have a good conscience, in all things willing to live honestly. Hebrews 13:18
Mary Neal
Assistance to the Incarcerated Mentally Ill
Website: http://wrongfuldeathoflarryneal.com
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July 11, 2008 at 07:55 pm by duo, 572 views, 4 comments
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Comments (4)
at 08:36 on July 13th, 2008
Now there's a Dream, Daddy didn't count on!
at 17:20 on July 13th, 2008
Yes, Barry, no doubt Rev. King would not have wanted this. However, I wanted to point out that this is a common problem, especially when the estates are sizeable or receive ongoing proceeds, as with recording artists. I have faith that the King family will work this out quickly and without loss of affection for one another.
at 18:53 on July 14th, 2008
One can only hope so, funny how money can rip one apart over blood
at 00:08 on July 15th, 2008
You are correct, Barry. Personally, I feel that more wealthy people should consider choosing an old, well-established law firm to act as their estate executors rather than selecting a family member. To keep your estate lawyers honest (some lawyers need help with that), require in your will that your beneficiaries choose a different accountant each year to conduct annual audits of the estate. That should prevent your attorney and accountant from teaming up against your beneficiaries. Remember ENRON and Arthur Andersen, and also remember http://wrongfuldeathoflarryneal.com. Sometimes, conspiracies really do happen!
Leaving a growing estate in the hands of a family member as executor is like leaving a million dollars on your bathroom vanity table during a big family dinner. Are you sure all the money would still be there after dinner at your house?
Mary