The Delaware Court of Chancery has rejected frequent Delaware political candidate Richard J. Korn’s argument that his withdrawal of hundreds of thousands of dollars from an account he jointly held with his 95-year-old mother was done with the understanding she had gifted him the funds.
In a ruling in Korn v. Korn that determined Sylvia Korn’s donative intent in a number of areas involving her son’s use of her assets, Vice Chancellor Sam Glasscock III ruled for Richard Korn on several issues but found it would not have made sense for Sylvia Korn to have intended to give him access to all of her funds before her death.
