L’Oreal Heiress Declared Incompetent

A French judge declared L’Oreal heiress, Liliane Bettencourt, incompetent and granted control of Bettencourt’s financial affairs to her only child, Francoise Bettencourt-Meyers, and grandsons, Jean-Victor and Nicolas.

The family was concerned about Bettencourt’s health and asset management abilities due to her declining mental health. Bettencourt’s attorney has vowed to appeal the decision. During a recent interview, Bettencourt stated that she would leave France rather than allow Francoise to take control of her life.

The Huffington Post’s report of this story is below:

See L’Oreal Heiress Bettencourt Under Family Guardianship, BBC News, Oct. 17, 2011; Danielle and Andy Mayoras, Europe’s Riches Woman, Lilian Bettencourt, Declared Incompetent, Forbes, Oct. 17, 2011; Jessica Misener, L’Oreal Heiress Liliane Bettencourt Loses Control of Her $23 Billion Fortune, Huffington Post, Oct. 18, 2011. 

Special thanks to Jim Hillhouse (WealthCounsel) and David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.