The estate of one of America’s best loved country singers is facing a struggle…
The estate of one of America’s best loved country singers is facing a struggle, since the interim administrator of the estate is asking the court for the legal muscle he needs to hire accountants and other professionals.
Stanley B. Schneider, Glen Campbell’s publicist, has filed a motion in Davidson Probate Court in Nashville for additional legal powers, so he can move forward with the singer’s estate. According to The Tennessean’s article, “Glen Campbell estate 'paralyzed' as will contest looms, lawyers say,”while the estate was filed nine months ago, the court set strict limitations on his ability to act and that has hampered the probate process.
The petition alleges that Schneider's duties are now curtailed to only collecting money paid to the estate and making mandatory non-discretionary payments. It asks Probate Judge David "Randy" Kennedy to schedule a hearing later this summer to rule on the expanded duties request.
Glen Campbell died on August 8, 2017 at age 81, after a long battle with Alzheimer's disease.
Schneider, the court-appointed administrator for his estate, recently arrived at a partial preliminary estimate. However, it is only a small fraction of the previous estimates of its value.
He claims that the estimated estate assets are roughly $410,000. Earlier estimates of Campbell's total estate value were near $50 million.
The estimate excludes future income rights from royalties, and notes that an appraisal is required.
Three of Campbell's children have served notice that they are contesting the will, which specifically excludes them from any estate assets. His will names his wife Kimberly as executor. She and his five other children are listed as beneficiaries.
Without the power to properly value the estate and its assets, which is done by qualified professionals who have to be retained and paid, coupled with a looming federal tax deadline, this estate may take a long time to unwind, even without the will contests that are waiting in the wings.
Reference: The Tennessean (July 2, 2018) “Glen Campbell estate 'paralyzed' as will contest looms, lawyers say”