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Diana L. Courson

Zuckerman Spaeder LLP Negotiates $14M Settlement in Posner Family Probate Fight

August 8, 2003

After bitter litigation, a settlement was reached in disputes over the will of Victor Posner, the late Miami Beach financier, and the trust it established in the name of his son, Troy.

Following Victor Posner's death in February 2002, three of his four children and his three grandchildren filed suit to invalidate all or part of his 2001 will. The suit alleged that Victor was in declining health when he signed the will and was unduly influenced by his longtime business associate and former girlfriend. Under the terms of the 2001 will, the former girlfriend was to receive the bulk of the estate and serve as personal representative.

Troy Posner also filed suit to receive a fair share of the assets from a trust created by Victor that named Troy as a beneficiary.

Under the settlement, negotiated by Zuckerman Spaeder and filed in Miami-Dade Circuit Court on August 8, 2003, Troy will receive $14 million in payments from both the trust and Victor's estate. Partner Cy Smith represented Troy Posner.