COLUMBIA, South Carolina – More than two years into a protracted battle over how to parcel out James Brown’s wealth, a judge on Tuesday approved a settlement that gives nearly half of his assets to a charitable trust, about a quarter to his wi
COLUMBIA, South Carolina – More than two years into a protracted battle over how to parcel out James Brown’s wealth, a judge on Tuesday approved a settlement that gives nearly half of his assets to a charitable trust, about a quarter to his wife and young son, and the rest to Brown’s adult children.
The settlement was a contrast to Brown’s will and trust, which were called into question soon after the Godfather of Soul died of heart failure Christmas Day 2006. His surviving spouse challenged the will when she was left out, and Brown’s children claimed the estate was mismanaged by trustees.
Brown’s six adult children bickered with the singer’s widow as each fought for a share of his fortune. Ultimately, Brown’s grandchildren and needy kids in South Carolina and Georgia will likely get the biggest payback – Brown set up a charitable trust to pay for their education.
“From the perspective of the charitable beneficiaries, the risks of not approving the settlement agreement are substantial,” Judge Jack Early wrote in his order.
The exact value of Brown’s assets has not been made public. However, during numerous court hearings since his death, there have been claims of unpaid debts, inadequate accounting and misappropriated money.
______
To read the rest of this article, subscribe to our digital or paper edition. For previous editions, contact us for details.
In photo: James Brown arrives with his wife Tomi Rae Brown for the 47th annual Grammy awards in Los Angeles. A South Carolina judge approved a settlement Tuesday, May 26, for the estate of late soul singer James Brown.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
About Post Author
