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July 20, 2021 / Press

Andrew G. Smith Quoted in Wealth Management Article on James Brown’s Estate Settlement

Andrew G. Smith was recently quoted in a Wealth Management article entitled, “James Brown’s Estate Reaches Settlement After Nearly 15-Year Dispute,” which highlights the recent end to a lengthy legal feud between the late musician’s girlfriend and children. Now that a settlement has been reached, the administrator of Brown’s estate will be able to fulfill his dying wish—to fund a trust that would provide scholarships for underprivileged children in South Carolina and Georgia. 

Although the details of the settlement remain private, Andrew was able to comment on the current state of the trust and whether it is likely that Brown’s dying wish can truly be completed. “The biggest question regarding whether the charitable trust can be funded is whether there are sufficient liquid assets left in the estate,” noted Andrew. He continued to explain, “Years of contentious litigation likely drained much of the liquidity out of the estate, to pay the fees and costs for the administrators and their attorneys. The remaining assets in Brown’s estate likely consist largely of intellectual property, which would need to be sold or otherwise converted to a source of liquid assets for a charitable trust to be properly funded.” 

Read the full article here.

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