Abbott's millions in limbo
It will be awhile before Colin Abbott, who is in prison for murdering his wealthy father and stepmother, finds out if he’s a millionaire.
A judge Thursday postponed an argument about why the 42-year-old New Jersey man should be banned from receiving his inheritance until all of his criminal court appeals are resolved.
That process could take years. In the meantime, ongoing auctions of the property in question already have raised nearly $600,000, with the expected creme de la creme — auction of the dead man’s 25-acre estate — still planned for September.
The different news updates came Thursday when Butler County Judge S. Michael Yeager was prepared to hear arguments on whether Abbott’s plea deal triggers the state’s Slayer’s Act.
Abbott was named as main beneficiary to the $4 million estate of his father, retired pharmaceutical executive Kenneth Abbott, 65, of Brady Township.
But criminal prosecutors have asserted greed for that inheritance was one of the reasons Abbott shot to death Kenneth Abbott and his wife, Celeste Abbott, 55, in the summer of 2011.
Investigators found charred bits of the couple’s remains scattered about their homestead in July 2011.
In February, Colin Abbott pleaded no contest to two counts of third-degree murder, and he is serving a 35- to 80-year prison sentence.
Attorneys Tom King and Ron Elliott, representing the estate of Kenneth Abbott, have previously asserted that under the Slayer’s Act, Colin Abbott is forbidden from inheriting anything because he caused his father’s death. If the request is successful, the main beneficiary to the estate would become Kenneth Abbott’s sister and executor Kathleen Neal of Virginia.
Attorney H. Craig Hinkle, representing Colin Abbott, opposes the request asserting that because Abbott pleaded no contest and therefore did not acknowledge guilt, the Slayer’s Act is not applicable.
The two sides were scheduled to debate Thursday before Yeager, but no discussion was held in open court. The attorneys and judge met privately, then announced the decision afterward: The argument will be postponed until Colin Abbott has exhausted all of his appeals in criminal court.
In his current appeal, Colin Abbott claims he was under duress when he entered his plea. He is asking the state Supreme Court to toss out his deal and grant him a trial. If that appeal is not successful, Colin Abbott could ask the state’s Supreme Court to hear his argument.
Outside Yeager’s courtroom Thursday, Hinkle applauded the decision to delay the Slayer’s Act hearing until the criminal court appeals are resolved.
“The judge realizes this issue is not ripe yet,” said Hinkle. “It all goes back to, “What if this thing (in criminal court) gets reversed, and it’s all Colin’s estate, and it is gone.”
Hinkle stressed that until the courts rule on the Slayer’s Act request, Colin Abbott still is eligible to inherit his father’s assets.
“Right now, this is Colin’s estate. Technically, it’s his inheritance,” Hinkle said.
King said the appeals process could take a couple of years, and in the meantime the money from Kenneth Abbott’s assets are in escrow. That money includes the proceeds from a series of auctions of Kenneth Abbott’s belongings.
To date, according to court records, there have been three auctions raising a net of $582,246.
The first auction on June 3 sold farm related equipment and raised $79,596 gross and $64,484 net.
The second auction on June 29 sold a collection of vehicles Kenneth Abbott had amassed. It raised $563,012 gross and $496,531 net.
The third auction in July sold household items and raised $36,615 gross and $21,230 net.
There will be at least five more auctions to sell Kenneth Abbott’s collections, which include antiques, toys and guns. The next auction is Aug. 24.
A final auction will be held to sell the property at 571 West Liberty Road, which previously was appraised at $1.3 million.
Court records say also in escrow are a $15,000 payment to Kenneth Abbott from Celeste Abbott’s life insurance policy and a money marketing account containing $728,679.
Because Colin Abbott is in prison did not attend Thursday’s court hearing.
However, his mother, Deborah Buchanan, was in attendance and described her son as hopeful about his appeal but saddened by the death of his sister Carolyn M. Borges, 44, of Lafeyette, N.J.
Borgess, who had been a quadriplegic since fracturing her neck in a vehicle accident at age 17, died June 10 of pneumonia.
Buchanan described Colin Abbott and “Carrie” Borgess as having been “very close” and the obituary says Borgess “owned her own business as well as helping out in her brother’s company.”
Buchanan, who has one other daughter, said because of her own grief, she has suspended her pursuit of a book or movie deal about the circumstances involving her son’s case. Buchanan is a murder mystery writer and owner of Deadly Ink Press.
Buchanan, from New Jersey, said she planned to immediately visit Colin Abbott at the Pennsylvania state prison in Camp Hill.
“I drive a lot,” she said.
