The Tom Benson (owner of the NFL New Orleans Saints and NBA Pelicans professional sports teams) adult incompetency lawsuit continues. Per a Court Order three (3) different medical professionals have examined 87 year old Tom Benson regarding his mental incompetency. His daughter and two (2) adult grandchildren brought the lawsuit. The opposing party is Tom Benson’s current wife of the last ten (10) years (wife number 3) who is 68 years old.
Pursuant to Tom Benson’s existing Estate Plan, his professional sports teams are owned by a Trust, and the Trust assets (the Teams are very valuable) would to go to his daughter and adult grandchildren upon his passing.
Recently Mr. Benson has sought to remove those sports teams from the Trust. Also typed letters have been sent to his daughter and adult grandchildren stating that he no longer wants to see them and that they are barred from his sport facilities, car dealerships and other properties.
The lawsuit alleges Mr. Benson’s current wife is taking advantage of the octogenarian’s mental decline to take control of his vast fortune.
The next phase of the litigation will depend on the medical professional’s opinions regarding his mental competency.
Unfortunately, Mr. Benson does not appear to have Mental Incapacity Planning inside a Living Trust, as did Donald Sterling, former owner of the NBA Los Angeles Clippers.
We regularly provide Mental Disability Planning inside of our client’s Living Trust. We put that mechanism in place so that lengthy public Court Proceedings and Trials can be avoided on this most difficult issue.
We will have to stay tuned as this true life drama continues.
At the Law Firm of Steven Andrew Jackson, Attorney and Counsellor at Law, we have helped hundreds of families protect themselves and their loved ones, avoid Estate Taxes and Probate Costs, and keep their Estate Plans current with the law through The Customized Protective Estate Planning Solution™.