Steve Bing and Elizabeth Hurley’s son Damian Hurley has won his legal fight against his multi-millionaire grandfather who tried cutting him out of his inheritance, DailyMail.com can reveal.
A Los Angeles judge ruled this week that Damian, 17, and his half-sister Kira Kerkorian, the daughter of Steve and former tennis pro Lisa Bonder, were indeed beneficiaries to Dr Peter Bing’s trust.
The elderly Bing had tried to cut the two out of his trust because they were born out of wedlock, attempting to clarify his interpretation of the term ‘grandchild’.
Steve, 54, had earlier accused his father Peter of ‘coordinating’ with his sister Mary, 53, to ‘orchestrate a massive money-grab to deprive’ Kira and Damian of their rightful inheritance and ‘thereby increasing—perhaps even doubling—her own children’s share of the available fund,’ court papers state.
The businessman had even wanted Mary punished for allegedly trying to screw his children out of the trust, asking a judge to ‘penalize’ Mary for allegedly violating a stipulation of the trust in her attempts to secure more money for her two children, Lucy and Anton, aged 19 and 16, whom she shares with her ex husband Doug Ellis.
If had been enforced, the penalty would have cost her children their entire inheritance.
Steve Bing and Elizabeth Hurley’s son Damian Hurley has won his legal fight against his millionaire grandfather who tried cutting him out of his inheritance, DailyMail.com can reveal
Peter Bing (right) had filed a motion in March seeking for Steve Bing’s (left) two children to be ruled ineligible as beneficiaries to his trust because they were born out of wedlock
Mary keeps out of the public eye, but has been documented giving millions away. Her last known address is listed in New York City.
She is listed as the president of the Cordelia Corporation, a foundation that as of May 2017, reported assets of $85.6 million and an income of $67 million, according to reports.
‘Mary Bing saw an opportunity to divert money from Steve Bing’s children to her own, and Peter Bing and the Trustee are going along with it,’ Steve’s lawyers stated in court papers.
The legal battle kicked off when the trustee for Dr. Peter S. Bing’s trust filed papers in March seeking to exclude Kira and Damian from the trust after Kira, 21, ‘demanded’ information on the trust.
Peter, who donated $50 million to Stanford University in 2006, established his trust in 1980 to ‘benefit [his] future grandchildren’, who were born or adopted at a young age by Steve or his daughter Mary, according to court papers.
However, the March motion attempted to clarify the meaning of grandchild, saying Peter did not intend for children who were born out of wedlock and who didn’t live in their parent’s home for a significant amount of time as a minor to be beneficiaries.
A Los Angeles judge ruled this week that Damian, 17, was indeed a beneficiary to Dr Peter Bing’s trust. Pictured: Damian making his modeling debut for Pat McGrath makeup this week
In addition to sharing his 17-year-old son Damian with Hurley, Steve also has daughter Kira Kerkorian Bing, with former tennis player Lisa Bonder (pictured together). She is also entitled to Peter Bing’s trust
Steve’s legal team called the petition a ‘sham’ and slammed Peter for ‘all-of-a-sudden’ clarifying what he meant by the term grandchild just before the trust expires in October 2020.
In court papers filed on Tuesday, Judge Daniel Juarez shot down Peter’s trustee’s attempt to claim the term ‘grandchild’ was ambiguous and needed to be clarified.
Juarez wrote in his judgement, citing case law: ‘Although wills are to be construed in accordance with the testator’s intent, it is the intent expressed by the words of the will itself which must be given effect rather than some undisclosed purpose or intent that may have existed in the mind of the testator.’
‘There is no ambiguity in the Trusts’ use of the term ”grandchild”.
‘The Trusts’ use of the word “grandchild” offers no ambiguity otherwise unless one accepts Trustee’s foisted definition that restricts, among others, grandchildren born out of wedlock to one of Settlor’s children unless they lived with one of Settlor’s children while a minor or as a regular member of the household.
‘These restrictive, limiting, further definitions unreasonably distort the term’s clear and plain use in the Trusts.
‘The Trustee’s interpretation of the Trusts is unreasonable because no ambiguity exists and the Trustee’s construction of “grandchild” is simply unfounded.’
‘Trustee’s interpretation is unreasonable and not entitled to deference.’
Hurley said in her May filing that Steve has ‘provided financially for Damian’s support’ and that she and Steve have had joint custody of Damian since his birth. Pictured: The former couple at an Elton John concert in 2000
In court papers, Steve also blasted Peter’s statement made in regards to Damian, suggesting that he had never met his only son.
Steve had initially denied Damian was his son, saying he and Elizabeth were not in an exclusive relationship at the time and demanded a paternity test.
The test proved Damian as his biological son.
Peter had stated he would not consider Damian to be his grandchild ‘even if Steve Bing were to develop a relationship with [him] now because he is nearing adulthood.’
In court papers, Steve said he had provided for him financially all of his life and continues to do so currently.
Hurley said in her May filing that Steve has ‘provided financially for Damian’s support’ and that she and Steve have had joint custody of Damian since his birth.
She accused Peter of having ‘misdirected anger’ towards Steve, that has ‘nothing to do with Damian’.
While the value of the trust is not known, all grandchildren beneficiaries are expected to inherit at least several millions.
Kira was launched into the national spotlight as a child when her ex tennis pro mother Lisa Bonder claimed casino billionaire Kirk Kerkorian was her biological father
The Vegas tycoon (right) was married to Bonder (left) for 28 days in 1999 and she demanded child support. It was claimed Kerkorian paid more than $100,000 per month for Kira’s upbringing. Although Kira was not Kerkorian’s biological daughter, his divorce settlement with Bonder required him to set up a $7 million trust for Kira. The trust was raised to $8.5m after his will was contested and Kira settled with his estate
However, both Damian and his half sister Kira Kerkorian are already sitting on millions.
Kira was launched into the national spotlight as a child when her former tennis pro mother Lisa Bonder claimed casino billionaire Kirk Kerkorian was her biological father.
The Vegas tycoon was married to Bonder for 28 days in 1999 and she demanded child support. It was claimed that Kerkorian paid more than $100,000 per month for Kira’s upbringing.
The magnate hired a private investigator to look into Kira’s paternity, who took a piece of dental floss from Bonder’s millionaire ex-boyfriend Steve Bing’s trash.
The DNA proved Kira was Bing’s daughter, but Kerkorian reportedly raised Kira as his own until 2008 when he allegedly stopped contacting the young girl.
Bonder admitted in the custody dispute that she faked the initial DNA paternity test by using a sample from Kerkorian’s other daughter Tracy Kerkorian.
Although Kira was not Kerkorian’s biological daughter, his divorce settlement with Bonder required him to set up a $7 million trust for Kira. The trust was raised to $8.5 million after his will was contested and Kira settled with his estate in 2016.