Tom Benson wants sports teams out of daughter’s trust

Tom Benson, the owner of the New Orleans Saints and the New Orleans Pelicans, filed a lawsuit on March 11 in an effort to remove the two teams from the trusts assigned to his estranged daughter and her kids, according to a report by The New York Times.

The lawsuit, which was filed in the U.S. District Court for the Eastern District of Louisiana, requests to allow Benson to remove the ownership in exchange for $556 million worth of secured promissory notes. The move was done to fulfill his wish of leaving the two teams to his third wife and not to his daughter Renee and grandchildren Rita and Ryan, which was the previous plan.

Last January, Benson expressed his intention to leave the two teams to his third wife. The announcement led his daughter and his grandchildren to file a claim that sought to declare that Benson is mentally incapable of running his own businesses, and Renee should therefore take charge of his financial affairs.

If you are facing any probate issue in Chicago, a lawyer at Peck Ritchey, LLC, might be able to help you protect you and your loved one’s future. Call us at (855) 328-5787 to learn more about how we may put our experience to work for you.

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Benihana heirs accuse stepmom of wasting inheritance

The children of late restaurateur and Benihana founder Hiroaki Aoki have filed a claim against their stepmother for allegedly spending their $50 million inheritance on questionable expenses, The Daily Mail reported on November 25.

Earlier this year, Aoki’s heirs assumed control over their father’s multi-million estate after winning a legal battle, but they won’t have access to the money until they reach 45. The estate has been entrusted to their stepmom, Keiko Aoki. However, the children allege Keiko has been squandering the money on dubious things, such as funding the hip-hop dance duo Beni Girls, which performs at restaurants and during promotional events. According to the lawsuit, the gimmick is an “odd attempt to entertain guests.”

The fund is currently in a trust that holds the stock of Benihana of Tokyo, a company that owns Benihana franchises overseas and one in Hawaii.

A trustee’s betrayal of their task to act in the best interest of its beneficiaries is a legal liability. If you believe a trustee has failed to perform its fiduciary duty, our team of Chicago breach of fiduciary duty attorneys at Peck Ritchey, LLC, is willing to assess your situation to see if it qualifies you to pursue financial restitution. Call us today at (855) 328-5787.

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Sterling probate trial continues

After a one week recess, the Sterling probate trial that will decide the future of Los Angeles Clippers resumed on July 21, USA Today reported.

Donald Sterling’s estranged wife, Shelly Sterling, seems to have the upper hand in the trial after the judge decided not to reject the testimonies of the two doctors who stated that Donald Sterling was mentally unfit to continue serving the Sterling Family Trust as a co-trustee. If the court agrees with this assessment, it would give his estranged wife sole authority to sell the basketball franchise.

The judge also did not allow Donald Sterling’s lawyers to call Shelly Sterling’s attorneys to the witness stand, where they hoped to frame the lawyers and Shelly as creators of a plot to oust Donald from the trust.

Trust litigation is a complex legal process that may affect you and your loved one’s futures. If you need effective legal representation during probate and trust litigation in Chicago, consult with an attorney at Peck Ritchey, LLC. Call our offices at 855-328-5787 today to learn how we may represent you.

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