ATLANTA -- The disowned daughter of the late philanthropist and Coca-Cola heir George W. Woodruff has settled her suit against the estate for $17 million, it was reported today.
Frances 'Tut' Woodruff, who challenged the will that cut her out of the $300 million estate left when her father died in February, reportedly will get $10 million after the estate pays $7 million in taxes, sources close to the negotiations told The Atlanta Journal-Constitution.
Details of the settlement were ordered sealed by Fulton County Superior Court Judge Don Langham.
'Everything has been resolved satisfactorily,' said Frank Jones, an Atlanta lawyer representing the estate administrator, Trust Co. Bank.
The elder Woodruff left $30 million to each of his other two daughters, Irene W. Michael and Jane Woodruff, and an additional $150 million to seven educational and medical institutions.
He excluded Frances Woodruff from the will but she claimed her father was insane and obsessed with the idea she had deserted him by marrying against his wishes at age 19, according to lawsuits.
After her marriage ended in divorce in 1960, the elder Woodruff succeeded in having his daughter committed to a mental institution, documents showed. She regained her freedom through a legal challenge.
According to the suit challenging the will, the elder Woodruff suffered from 'monomania,' an obsession with a single thing, which manifested itself in several forms, including an unreasonable fear his daughter and her four children wanted to harm or kill him.
Parties in the suit declined comment as they left the courthouse Friday, but sources said all beneficiaries in the Woodruff will contributed to the settlement.