Confidential settlement settlement reached in case over Ernie Banks’ property

Nearly eight years later to the day of legendary Chicago Cubs participant Ernie Banks’ passing, a confidential settlement was agreed upon over his property, in accordance with a information launch.

The announcement was made Friday, a number of days earlier than Ernie Banks’ eighth loss of life anniversary on Jan. 23. Banks, identified worldwide as “Mr. Cub,” handed away in 2015 on the age of 83.

Quickly after his loss of life, his property was tied up in litigation after Elizabeth Banks, the widow of Ernie Banks, contested his will citing undue affect and incapacity. The desire said that Regina Rice, a longtime good friend of his, was the executor, trustee and sole beneficiary.

Elizabeth Banks and his three youngsters weren’t named in his will, Linda C. Chatman, of Chatman Legislation Workplaces, who represented Rice within the property case, stated.

Rice stated she and Elizabeth Banks have “come to a decision and compromise” and may now transfer ahead in a constructive mild on behalf of Ernie Banks. She stated she continues to be the executor and trustee of the Ernie Banks’ property, and “a beneficiary.”

Rice stated she couldn’t clarify additional how the need modified from naming her the only real beneficiary to a beneficiary or say who else was named as a beneficiary due to the phrases of the confidential settlement.

“Ernie Banks’ 2014 will and belief stays in full pressure with Regina Rice because the executor of his property and trustee of Ernie’s Belief,” Chatman stated. “As trustee, Regina will proceed to regulate and handle the belief, together with any use of Ernie’s title and likeness.”

Rice stated she met Ernie Banks “round 2002, 2003″ and stayed “superb associates” up till his passing. She came upon in 2014 that he had named her in his will, she stated.

Elizabeth Banks was married to Ernie Banks on the time of his loss of life, however the two had been separated since 2007, Chatman stated.

Elizabeth Banks was represented by Garofalo Legislation Group. Gregg Garofalo stated in an announcement Saturday Elizabeth Banks “appears ahead to specializing in what actually issues — celebrating Ernie’s life and legacy.”

He stated his shopper is “particularly grateful” for the timing of the settlement Ernie Banks and different baseball legends will quickly be joined by Ryne Sandberg on Statue Row exterior of Wrigley Subject.

“Elizabeth’s hope is that Cub Followers, Chicagoans and all baseball followers always remember the expertise, optimism and keenness that Ernie possessed for not solely baseball however life itself,” the assertion stated.

“Chicagoland, his followers, we would like them to know — as a result of it wasn’t a reasonably image — and we simply need them to know that it’s been settled,” Rice stated. “It’s been peacefully settled. All people agrees with the phrases, and we need to transfer on and spotlight Ernie’s title and likeness and share a really optimistic route along with his legacy as a result of he was a great man. When you begin speaking to folks about him, you see why he was only a good man. It’s very unlucky that it needed to undergo this era, however we’re in a special place now.”

Rice stated she is a producer on the upcoming movie, On Smoother Filth, which is in preproduction and can depict Ernie Banks’ formative years. The movie doesn’t have a launch date but, Rice stated, however filming is ready to start quickly and she or he is looking forward to a 2023 launch.

sahmad@chicagotribune.com