As the drama surrounding the Huguette Clark estate continues to unfold both in the courtroom and in the media, some of the heiress’s possessions will soon be sold as part of the estate settling process. As the sole heir of copper mining magnate William Clark, Huguette died last year at the age of 104, leaving behind a $400 million fortune. Though the question remains as to who will inherit her estate, the executors responsible for managing the property are planning on selling some of her real estate and personal jewelry.
Ms. Clark had been a recluse for much of the past 70 years, spending the last several decades isolated in a New York City hospital room. Her executors discovered that Ms. Clark had an extensive personal jewelry collection that had been hidden away in a bank safety deposit box since the 1930’s. 17 pieces were found in the box, all of them in their original packaging. The most valuable, a nine-carat pink diamond ring, is very rare and estimated at a value of between $6 and $8 million, though it is expected to sell for much more at the April auction held at Christie’s.
Apart from the jewelry, the estate is also selling three New York City apartments that Ms. Clarke owned, though she had not inhabited them for decades. All three of the apartments are located in the same building that overlooks New York’s Central Park, and are listed at an asking price of $55 million.
Latest posts by Michael Robinson, Estate Planning Attorney (see all)
- Is a Family Limited Partnership Right for My Business? - August 22, 2019
- Your Planning Can Help Your Loved Ones - August 21, 2019
- How Large of an Estate Can Pass Tax Free? - August 20, 2019