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Jimi Hendrix

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Author Topic: Jimi Hendrix  (Read 3005 times)
Stellaraxe
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« Reply #15 on: September 18, 2007, 03:15:36 am »



Financial legacy

When Al Hendrix died of congestive heart failure in 2002, his will stipulated that Experience Hendrix, LLC was to exist as a trust designed to distribute profits to a list of Hendrix family beneficiaries. Upon his death, it was revealed that Al had signed a revision to his will which removed Jimi's brother Leon Hendrix as a beneficiary. A 2004 probate lawsuit merged Leon's challenge to the will with charges from other Hendrix family beneficiaries that Janie Hendrix was improperly handling the company finances. The suit argued that Janie and a cousin (Robert Hendrix) paid themselves exorbitant salaries and covered their own mortgages and personal expenses from the company's coffers while the beneficiaries went without payment and the Hendrix gravesite in Renton went uncompleted.

Janie and Robert's defense was that the company was not profitable yet, and that their salary and benefits were justified given the work that they put into running the company. Leon charged that Janie bilked Al Hendrix, then old and frail, into signing the revised will, and sought to have the previous will reinstated. The defense argued that Al willingly removed Leon from his will because of Leon's problems with alcohol and gambling. In early 2005, presiding judge Jeffrey Ramsdell handed down a ruling that left the final will intact, but replaced Janie and Robert's role at the financial helm of Experience Hendrix with an independent trustee. To date, the gravesite of Jimi Hendrix remains incomplete.

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