Ray Charles' Management Problems Continue After his Death
In 2002, Charles gathered his children and told them that the bulk of his assets would be left to the foundation, but that $500,000 would be placed in trusts for each of them. Charles also indicated that there might be more for them “down the line,” which led some of his children to believe that they would own the right to profit from licensing his name and likeness. In 1992, prior to his passing, Charles established a partnership with two of his children to market apparel and other items bearing his likeness. Charles’ estate plan, however, is apparently silent with respect to the rights associated with the use of his image, rights that his children contend he pledged to them.
The focus of the family’s complaints is Joe Adams, Charles’ long-time manager who started working for the singer in the early ‘60’s. Adams has served as the head of Ray Charles Enterprises, director of Charles’ foundation and also trustee of the children’s trusts. Adams’ stewardship of Charles’ foundation had also been challenged by Deputy Attorney General Wendi A. Horwitz, after learning that Adams was serving as chairman, president and treasurer of the foundation, which is in violation of state law.
During Charles’ career, Adams was seen by many as wielding too much control over the star. Now it appears that Adams may have too much unchallenged power over the late musician’s estate. Despite his nickname—the Genius—it appears that Charles’ management problems have continued following his demise.http://www.laprobatelaw.com/admin/trackback/69067
