Banks’ estate still up in air
CHICAGO — A closed-door meeting Friday between Ernie Banks’ estranged wife and his longtime caretaker apparently did not resolve the legal dispute over how to divide the estate of the Cubs great.
It was the first time that Elizabeth Banks, who lives in California, and Regina Rice had come together since Banks died in January of a heart attack at 83.
Rice’s lawyer, Linda Chatman, said Banks rejected an undisclosed settlement proposal and “refused to negotiate at all.”
“We are going to litigation at this point,” Chatman said following the half-hour private session before Cook County probate Judge James Riley.
Chatman described Rice as “very disappointed.”
“She was hoping we could come to a meeting of the minds and move on,” she said. Banks’ attorney was unavailable for comment. Banks alleged in a recent court filing that her husband had been diagnosed with moderate to severe dementia days before Rice arranged for him to sign a will in October at a suburban attorney’s office. The will cut his family out of his estate and left everything to Rice.
Rice, meanwhile, has claimed that Banks entrusted her to carry out his wishes and wanted to make sure his fourth wife didn’t share in his estate. Banks went so far as to send his wife a stern “cease and desist” letter in 2013 demanding that she stop claiming any right to his personal or business dealings, court records show.
This year, Rice filed an inventory of Banks’ personal property with the court that consisted mostly of items from Banks’ rented Trump Tower condo as well as storage containers in Chicago and California. The list included Banks’ original Negro League contract from 1950 and autographed baseballs from Bill and Hillary Clinton. Other big-ticket items included a Rolex watch, the ring commemorating Banks’ induction into the Hall of Fame in 1977 and the Presidential Medal of Freedom awarded by President Barack Obama in 2013.
Chatman expressed hope that despite the outcome Friday, the two sides could still come to a settlement.
“There is still time and anything can happen,” she said. “We are hoping Ms. Banks will come to a change of heart and consider settling this matter.”