Sumner Redstone, former chairman of CBS and Viacom, had been dealing with a mental competency suit, which finally ended earlier this month. Does this mean that his legal battles are over? Unfortunately for Mr. Redstone, no. Now, he is dealing with a trust battle that is taking place in Norfolk County over his $4 billion empire.
Sumner Redstone’s Trust Litigation Battle
- As you may recall, Sumner Redstone was recently the subject of a Californiaguardianship action involving himself, his daughter, and his ex-girlfriend.
- What is a guardianship in Palm Beach litigation?
- Ask your guardianship litigation attorney West Palm Beach.
- The guardianship proceeding that Mr. Redstone dealt with pitted Mr. Redstone and his daughter against Mr. Redstone’s ex-girlfriend.
- Allegations involved whether Mr. Redstone’s changes to his estate plan, which included changing his power of attorney and health documents, were valid or not.
- According to Florida Statute 732.501, a testator must be “of a sound mind” when executing or amending a Florida will or trust.
- What does that mean?
- At the time of the estate plan change, a person must have, in general, understood the “nature and extent of property to be disposed of and testator’s relation to those who would naturally claim a substantial benefit from will, as well as general understanding of practical effect of will as executed. “In re Wilmott’s Estate, 66 So. 2d 465(Fla. 1953), 40 A.L.R. 2d 1399.
- After Mr. Redstone participated in a videotape deposition, the guardianship judge dismissed the lawsuit.
Mr. Redstone is Sued Over a Trust
- There is a trust that Mr.Redstone has that holds the shares that he has in Viacom and CBS, two prominent companies.
- According to the media, seven trustees manage that trust.
- The Salt Lake Tribune reported that two trustees were removed from serving as trustee of Redstone’s trust that holds his shares in Viacom and CBS.
- Philippe Dauman, Viacom CEO, and George Abrams were the two trustees removed.
- They filed a lawsuit.
- Among other things, they claimed that they were not properly removed.
- Will they be reinstated by the probate court?
- In addition, other allegations focused on Mr. Redstone’s daughter
- To read the complaint filed, click here.Want to know more about Florida probate litigation? Consider these free resources:
- Read the Florida Courts webpage on the probate process:http://www.flcourts.org/resources-and-services/family-courts/family-law-self-help-information/probate.stml
- Read the Florida Probate Code:http://www.floridabar.org/tfb/TFBLegalRes.nsf/
- Read the Florida Probate Rules:https://www.floridabar.org/tfb/TFBLegalRes.nsf/
- Here are the Rules Regulating the Florida Bar if you are interested in hiring a Florida probate litigation lawyer and want to know more about our ethical rules and our rules of conduct:http://www.floridabar.org/divexe/rrtfb.nsf/WContents?OpenView
- Here are the Florida Rules of Civil Procedure:http://www.floridabar.org/tfb/TFBLegalRes.nsf/
- Watch free Florida Trust, Probate & Guardianship videos, which include important topics of Florida estate, guardianship, attorneys fees, & trust law.
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