AceShowbiz - The estate of late country music legend Glen Campbell is only worth an estimated $410,000, according to newly-filed court papers. The "Rhinestone Cowboy" hitmaker, who died in August (17) after a six-year battle with Alzheimer's disease, was previously thought to have an empire worth around $50 million, but the court-appointed estate administrator has disputed that figure in paperwork filed as part of the probate proceedings.
According to The Tennessean, Stanley B. Schneider, who previously served as Glen's accountant and then his manager, carried out an inventory of the singer's assets, and noted his two bank accounts contained a combined total of $959.
His most valuable asset is his 50 per cent stake in the Arizona Diamondbacks professional baseball team, which is valued at just over $296,100, while his companies Glen Campbell Enterprises and Glen Campbell Music Inc., of which he was the sole owner, are said to be worth $84,524 and $25,110, respectively.
The four-page document filed in Davidson Probate Court in Nashville also reveals Campbell is owed $76,000 in royalties. An appraisal is required to determine how much the estate would bring in from future royalty payments.
However, Schneider, who became administrator of Campbell's estate in February, reveals the late singer has debts of $118,200, including about $107,000 in state and federal income taxes, and legal fees amounting to $71,000.
Shortly after Campbell's passing, it was revealed he had cut three of his eight children from his will, while naming his widow, Kim Campbell, and his five other kids as beneficiaries.
The probate news emerges weeks after Kim filed her own claim with her late husband's estate officials, seeking the reimbursement of $506,000 spent on medical care during his battle with Alzheimer's disease.