The administrator of the estate of Natalie Cole is asking a judge for an order approving his payment of all remaining bills and to grant his request to close the late singer’s estate.
Howard Grossman, who is managing the estate’s assets and liabilities, says in court papers filed Thursday in Los Angeles Superior Court that the total assets as of last October were $1.3 million.
“All debts of the decedent and of the estate were paid in full by (Grossman),” his attorneys state in their court papers. “The decedent’s final personal income taxes have been filed and all taxes shown to be due thereon have been paid.”
Grossman made a preliminary distribution of nearly $1.1 million to himself as trustee of the Natalie Cole Family Trust, according to his attorneys’ court papers. He is additionally asking the court to allow the payment of $26,265 to him for his work regarding the estate and for an identical amount as compensation for the attorneys who assisted him.
Two creditors’ claims collectively totaling about $20,235 were paid by the estate, according to Grossman’s lawyers’ court papers.
“The estate is solvent,” Grossman’s attorneys state in their court papers. “There are no rejected creditors’ claims.”
A hearing on Grossman’s petition is scheduled for Sept. 8.
Grossman also has been a business manager for Britney Spears and actress Kelly LeBrock.
The Grammy-winning Cole died Dec. 31, 2015, from heart failure induced by lung disease at age 65. The daughter of the legendary Nat “King” Cole underwent a kidney transplant in 2009 after battling drug problems and hepatitis C.
—City News Service
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