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Rosa Parks Memorabilia Auction

July 21, 2011 2:35:57 PM UTC by cardman1968 in Black Americana, Ethnic Americana and Lobby

There is a lot of drama around the auction of Rosa Parks memorabilia this week. Two parties are in a struggle over the rights to the memorabilia (and control over the distribution of the resulting proceeds). It's an interesting article that illusstrates a common problem faced by those dissolving the estates of the famous.

"Since Mrs. Parks' death in 2005 ... the court system of her adopted city has embarked on a course to destroy her legacy, bankrupt her institute, shred her estate plan and steal her very name," Cohen said in the filing.

Ouch. Read more at...

http://www.freep.com/article/20110721/NEWS06/107210550/Lawyer-Rosa-Parks-estate-drained?odyssey=tab|topnews|text|FRONTPAGE

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cardman1968

cardman1968

Exactly! She did everything she could and it wasn't enough. That's scary.

Posted July 22, 2011 6:24:21 PM UTC

synace

synace

So, the court used the estate's money to defend the estate against multiple claims? Once that ran out, they seized the assets (including the rights to her name) and are now going to auction that off? Is it to cover legal fees?

"Though Parks designated Steele and Shakoor to administer her estate, Burton picked Shakoor and William McCauley. Later, he replaced them with Chase and Jefferson."

That would be piece worth scrutiny. Perhaps some benevolent person could purchase the entire estate and assign it back to the will and trust created by Mrs. Parks in 1998.

It's sad to know that if you create a trust, get everything in order, and completely document your wishes, more than 7 years before your death, your wishes will not be honored.

Posted July 21, 2011 3:00:00 PM UTC

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