On March 2, 2016 Aubrey McClendon, the former Chesapeake Energy Corp CEO and part owner of the Oklahoma City Thunder was tragically killed in a highway accident. For months it was speculated that McClendon may have committed suicide because the accident came just days after McClendon had been indicted by a grand jury for bid rigging; however, no substantial evidence was found to confirm this.
According to the accident report, he ran into a bridge wall head on while driving 80 mph.
In the midst of such a tragedy for the family of the 56-year-old, Duke University among others are filing claims against his estate. According to the university, McClendon had made several pledges that total 18.75 million dollars and only 9.9 million is still unpaid.
According to the university the claim is a "routine transaction" and comes just days after the university received note from McClendon's estate that they should submit a claim for unpaid portions of pledges McClendon had previously made to his alma mater. The university also reported that McClendon and his family all graduates of Duke had given or pledged more than 20 million dollars and are very thankful for their contributions.
In addition to Duke University several other banks and lenders have also filed claims against the estate of the former CEO for unpaid loans and have until September 16, 2016 to make their claim.
While unfortunate, this particular situation brings many questions to the forefront as it relates to Trust, Estates and Probate matters. In this particular case McClendon named his wife as the executor; however, there are several cases in which fiduciaries/executors do not live up to their legal responsibilities and lawyers have to step in. Making it a priority for anyone who has a will to be clear in how their money should be handled once they are no longer here.
Update: Duke University has reportedly dropped their claim against the estate.