Lawsuits Surrounding Estate of Jacob Irving Zucker

Jacob Irving Zucker died in 2002 from post-surgery heart complications. He earned his fortune from interests in broadcasting, insurance, and other investments, and his reputation as a philanthropist and art collector survives him. In his will, he ordered that his debts be paid off and his remaining money be split evenly among his three children.

Zucker may have died over a decade ago, but his heirs and former executors in charge of his estate are in a battle over how to manage his fortune. Two of his children, David and Suzy Zucker, are accusing the former accountants of the estate, Moore and Leibow, for taking fees in advance without the children’s consent. Suzy and David want that money back along with a full accounting of how they handled Irving’s $43 million fortune. One of the accountant’s partners are also bring suit against him for hiding half of the $2.2 million fees that he took from the estate. He is suing for wrongful dismissal in return.

Hearings have been held before several judges so far, and some of the results include: removing Moore and Leibow as Zucker’s executors, no longer allowing the estate to pay Moore’s legal fees, and ordering that Leibow remain a party to the heirs’ suit.

There will likely be a trial during the September sitting of the Superior court to decide if the trustees took excessive fees, how much they should have to pay back, and whether the estate should pay the legal bills of the accountants.

See Lawsuits Swirl Around Irving Zucker’s Estate, Estate of Denial, May 8, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.