Posted Sep 27, 2013 10:15 pm CDT
A bitterly fought court battle over a reclusive heiress’ $300 million estate has been settled.
The settlement, which has been filed in court, was approved by a judge Tuesday.
“This result is a fair result,” Manhattan Surrogate’s Court Judge Nora Anderson said.
A newly created arts foundation will receive about $100 million from the deal, including Clark’s estimated $85 million Santa Barbara, Calif., estate. Washington’s Corcoran Gallery of Art will get at least $10 million. Another $34.5 million will be divvied up among 20 of Clark’s relatives, and $11.5 million will cover the relatives’ legal fees, the Daily Mail reported.
Clark’s longtime nurse will give back about $6 million of the $30 million in gifts she received from Clark prior to her death, according to her lawyer, Harvey Corn.
Clark’s lawyer and accountant, who each received $500,000 gifts in one of her disputed wills, came away empty-handed.
New York Attorney General Eric Schneiderman, who got involved in the case to protect the interests of nonprofits, said the settlement will ensure that Clark’s “charitable wishes” are fulfilled.
Clark’s relatives said in a statement that the settlement sends a “strong message that those entrusted with the care of the elderly will be held accountable for their actions.”
Clark, the heiress to a copper mining and railroad fortune, died in 2011 at the age of 104.