Ernie Banks Estate Worth $16,000 When He Died: Caretaker
By Chuck Sudo in News on Feb 24, 2015 8:45PM
The battle over Ernie Banks’ estate went to court Tuesday and the attorney for Banks’ caretaker Regina Rice made a risible claim: “Mr. Cub” didn’t have much to leave behind.
Rice’s attorney Linda Chatman claimed Chicago Cubs Hall of Famer Banks only had $16,000 in assets in his estate when he died last month—six times the value of one of the Louis Vuitton handbags Rice favors. It’s a claim that seems to stretch the boundary of belief, knowing Banks owned a lakefront condo. Chatman said that estate value was merely preliminary and would be amended once the value of Banks’ likeness was taken into account.
Rice and Banks’ widow Elizabeth were in Cook County Probate Court for a hearing that will eventually determine who will control Banks’ estate, as well as handle his remains. Liz Banks filed a petition after her husband’s death, believing Banks had no will. Rice, a nightclub singer, filed a will signed by Banks days after Liz Banks’ petition claiming she was to receive all of Banks’ assets.
Liz Banks’ attorney, Tom Jefson, stressed his client is making no claims of fraud or embezzlement by Rice. “We’d just like to know what happened,” he said.
Judge James G. Riley gave Rice 30 days to compile a more detailed accounting of Banks’ assets within 30 days.