Via Cannon King Instagram
By Winston Cho | Hollywood Reporter
A battle for the estate of Larry King is getting messier. Shawn King, the broadcaster’s widow, is suing her former business managers, accusing them of stealing money and conspiring to help King’s son Larry King Jr. usurp her as executor of the estate.
King died in January 2021 after being hospitalized for COVID-19. A month later, Larry King Jr. moved to become special administrator of the estate. He pointed to a handwritten amendment by King leaving his assets to his five children. Shawn King challenged the will, arguing it was changed under questionable circumstances. The matter was resolved through a confidential settlement.
In a lawsuit filed Thursday in Los Angeles Superior Court, Shawn King alleges Blouin & Company colluded with Larry King Jr. to divest her from the estate in addition to illegally transferring millions of dollars to numerous people and entities without her permission. She seeks over $100 million for breach of fiduciary duty, professional negligence and fraud, among several other claims.
“The Blouin Defendants led a fraudulent and malicious conspiracy to steal money from their own client, Mrs. King, and deprive Mrs. King from her rights and interests in the estate of her late husband,” reads the complaint, adding that the firm shared confidential financial information with Larry King Jr. to aid him in his suit.
“This case demonstrates the risks of managing community property funds of a husband and wife. The allegations suggest that the business manager made numerous unauthorized transfers in conjunction with the husband before his death and assisted the husband’s son against the wife related to the husband’s estate, breaching fiduciary duties to the wife.,” says Tony Freeman, Rose Law Group Senior Counsel says.
“Absent specific written authorization allowing one spouse to direct a third party holding funds or property to make transfers of community property without the consent of the other, following the lead of one spouse to the detriment of the other is problematic. It creates a clear conflict of interest and likely constitutes a breach of fiduciary duty. Taking a position adverse to the wife exacerbates the conflict and amplifies the breach of duty. It is best to clearly define your rights and obligations in an written agreement signed by both husband and wife and to tread carefully when managing the rights of both spouses in property.”
