Inside Anna Nicole Smith’s Battle Over Her Billionaire Husband’s Estate by taxgirl
That was the testimony of former Playboy model-turned-actress Anna Nicole Smith in 2005, summarizing a contentious legal battle for the estate of her husband, J. Howard Marshall, that would drag on for years.
By his late 80s, Marshall was wealthy, following years of success. He graduated from Yale Law School magna cum laude in 1931 and served briefly as Assistant Dean of the school. He left for a government job in the Department of the Interior, where he became familiar with oil pricing and the petroleum industry. That led to stints in the private sector, including at Standard Oil, Ashland Oil and Refining Co., and Signal Oil and Gas.
A photograph of Anna Nicole Smith and J. Howard Marshall II sits next to the casket at his memorial service on August 8, 1995, in Houston, Texas. He died at 90.Marshall had engaged in a series of tax planning maneuvers over the years, including transferring interests in—then primarily held in a company he founded called Marshall Petroleum—to his family members. And when he died, he didn’t provide for Smith in his will or trusts, a move that Marshall's son, E.
In 1999, the bankruptcy court issued an order discharging all debts and claims against Smith except for one: Pierce's claim for defamation. That complaint and the counterclaim were set for trial in October 1999. Just before trial, the judge granted Smith's claim for summary judgment—effectively ruling that Pierce did not have a valid claim. The trial proceeded, however, on Smith's counterclaim.
The matter was argued in the Supreme Court on February 28, 2006. Smith was in attendance, as was Pierce, who swore that Smith would not get anything from his father's estate. In June 2011, a split Supreme Court ruled against the estate, 5-4. The question was, again, a narrow one: Did the bankruptcy court have jurisdiction to tackle Smith's counterclaim?
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