# 2 1999. James Brown - Ready to Create a Legacy

         QUESTION:     

                 How much of James Brown’s assets should the Attorney General give to challengers claiming Buddy Dallas and David Cannon unduly influenced  Brown to give his music empire to the “ I Feel Good” Foundation?

       AG’s ANSWER:    

                52 ½%; and a  right to buy Brown’s assets at "fair market value." Then value Brown's worldwide music empire at $4.7 million.

                If the AG’s answer makes you laugh, don’t.  Consider crying.
   
               From 2008 until 2013 only a handful of people dared to challenge the AG’s answer -- or the AG’s right to take over and give away Brown’s private property.

               But there was simply no reason for the State’s official charged with the protection of charities  to dismember what was about to be S.C.’s largest private foundation dedicated solely to the education needy students.  The undue influence claim had no basis.

               In 1999 Brown was 65.   He had been working with estate planner Dewain Herring since 1996.  He and financier David Pullman were publicizing Brown’s $100 million music empire and touting a sophisticated financing deal.

               Brown was slowing down.  But not stopping.  He never did.

              On February 24th Brown made the tape of his intention to create the “I Feel Good” Trust, but delayed signing.

             On June 11 Brown was in New York to close the Pullman deal. Brown got a $26 million loan from the New York Teachers ( “TIAA”), pledging the rights to 800+ songs.
   
             Four days later, on June 15, Brown executed the first “I Feel Good” Trust.

            The 1999 estate plan would be almost identical to his final 2000 estate plan:

            1.  Personal and Household effects to 6 of his dozen or so children;

            2.  (By formula) $285,000 education trusts to the 7 children of the 6;

            3.  Everything else to the “I Feel Good” Foundation.

             Small changes on August 1, 2000 in the plan and execution of an irrevocable trust left four separate documents executed over two years to confirm Brown’s wishes. Memoranda of the 2000 Trust were filed in two states. Brown’s plan was ironclad.

            When challenges erupted seven years later, Buddy Dallas would say: “If James Brown were here, this would be over in fifteen minutes.”  But Brown was not there.