LOS ANGELES, Oct. 16 /PRNewswire/ -- With regard to Sherri Crichton filing a creditor's claim with her late husband, Michael Crichton's estate, her attorney Adam Streisand of Loeb & Loeb wishes to provide clarification regarding this routine action, which was legally required to preserve Sherri Crichton's rights under the prenuptial agreement that she and Michael mutually executed in April 2005. The prenuptial agreement provides that Sherri Crichton shall receive $1 million per year over a nine year period. While Michael Crichton was alive, he delivered two annual payments totaling $2 million to his wife. Upon his death, the prenuptial agreement provides that his widow Sherri Crichton shall be paid the remaining balance in a lump sum.
Pursuant to California Probate Code section 9100, in order for Sherri Crichton to preserve her right to be paid the balance of $7 million that is due under the prenuptial agreement, it was required by law that she file a "creditor's claim," which is an official request for payment from her late husband's estate that must be filed with the court within a required time limit. Through her attorney, Sherri Crichton followed proper and routine procedures to timely file the creditor's claim. Failure to take such timely action would have resulted in Sherri Crichton forfeiting rights to receive payments that Michael Crichton previously agreed to provide to his widow, as was clearly specified in their prenuptial agreement.
Media Contact:
Sallie Olmsted/Jason Magner
Rogers & Cowan
310-854-8124 / 310-854-8128
SOURCE Loeb & Loeb
Loeb & Loeb
CONTACT: Sallie Olmsted, +1-310-854-8124, or Jason Magner,+1-310-854-8128, both of Rogers & Cowan, for Loeb & Loeb
