Slow times in the newsworthy estates area.  Going back a few months, Andrew Getty was the 47 year old grandson of J. Paul Getty who died of a meth overdose last year.  His father, Gordon Getty, filed a claim against his son’s estate for repayment of $14 million that he allegedly loaned him.  Gordon Getty is also seeking the return of 55 pieces of art valued at $1 million.  The younger Getty’s Hollywood Hills house was listed for sale this week at $8 million.

Several quick points:

  1.  Creditors of a decedent have to file a claim against the estate if they want to secure payment for a debt.  In Ohio, the claim must be filed within six months of the date of death.
  2. Based on the amount of the claim filed by Gordon Getty, it is obvious that he financed his son’s life.
  3. Andrew is the second Getty grandchild to die a drug related death.  An incentive trust might have helped them manage their finances.
  4. It should be no surprise that Gordon Getty is seeking money from his son’s estate.  His father charged a son interest on the ransom he paid for the release of a kidnapped grandson.  Apples do not fall far from the tree.