Fight Over Trust Fund For Needy Children in Panama

Wilson Lucom was an eighty-eight year old American living in Panama. In his will, Lucom left his wife, Hilda, a monthly allowance of $20,000 and the right to continue living in the marital home; he also left specific bequests to Hilda’s adult children. Lucom left the majority of his $150 million estate to a trust fund created to benefit the poor and needy children of Panama.

Hilda challenged the will, claiming that Lucom’s attorney (Florida attorney, Richard Lehman) had coerced Lucom into creating the trust. A Panama court removed Lehman as the estate’s executor, but upheld the validity of the will. Hilda appealed to the Supreme Court of Panama.

The Supreme Court of Panama upheld the validity of the will but named Hilda as the “universal heir” of the bulk of the fortune left to Lucom’s charitable trust fund. Several individuals, including a prosecutor and the notary on the will, filed challenges to the court’s ruling. The Supreme Court of Panama decided to review the case, but has yet to do so.

In the mean time, Leham has filed suit in a Florida federal court, accusing Hilda, her adult children, and attorney, judges, and prosecutors from Panama of being part of a criminal RICO conspiracy.

See Danielle and Andy Mayoras, $150 Million Trust Fund Stolen From Poor Children in Panama, Lawsuit Claims, Forbes, Oct. 3, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.