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Wells Fargo claims that Wendy Williams is an “incapacitated person” who cannot manage her financial affairs. On February 10, 2022, the bank sent a letter to New York Supreme Court Judge Arlene Bluth requesting a hearing to discuss the TV host’s finances.
The request came a few days after Williams’ attorney, Celeste N. McCaw, filed an emergency petition claiming that the veteran media personality was locked out of her Wells Fargo account. She was denied access to her assets and statements for over two weeks.
However, the bank argued that it decided to freeze Williams’ funds as they have “strong reasons” to believe that the latter is a victim of “undue influence and financial exploitation.” Wells Fargo also mentioned that the reports were based on statements provided by Williams’ former financial adviser Lori Schiller.
Legal documents obtained by People show Schiller reportedly stating that Williams was “of unsound mind.” The advisor also alleged that she recently “witnessed signs of exploitation, including Wendy Williams' own expressed apprehension” about people around her.
Wendy Williams responds to Wells Fargo's claims
Williams fired back at the bank for blocking her access and accused them of overstepping their boundaries.
She reportedly confessed in court that she was behind on her bills. Due to the financial situation, she failed to meet her financial responsibilities, including her mortgage and employee payroll. Williams claimed the bank made its decision based on the opinion of a former financial advisor.
Schiller and Williams have been working together since 2018, but the former was reportedly fired for “malfeasance” and “improper conduct in relation to their professional relationship.”
However, the bank filed a legal report claiming that the host allegedly faced undue influence and financial exploitation due to being an “incapacitated person.”
According to court documents published by Page Six, Wells Fargo representative David H. Pikus has also asked the court to provide Williams with professional “guardianship” to oversee her financial matters:
“We are concerned about [Williams'] situation. It is our hope that the Guardianship Part [of the court] will imminently appoint a temporary guardian or evaluator to review the situation and ensure that [Williams'] affairs are being properly handled.”
Pikus also reiterated the bank’s claims and said they had sufficient reason to justify their actions. He also requested that the case be kept “under seal” to “preserve the confidential nature” of the matter.
Meanwhile, Williams’ lawyers immediately denied all claims of undue influence and financial exploitation by the bank. Attorney McCaw even asked the judge to issue a temporary restraining order against Wells Fargo to prevent the bank from freezing Wendy Williams’ account.
A look into the meaning of "incapacitated" person
The word “incapacitated” describes an adult individual who cannot realize their own personal or necessities like food, shelter, or clothing due to any physical or mental condition.
The term is also used to define people who cannot care for their health and safety, oversee their financial affairs or make responsible communication about their personal decisions.
According to US Legal, the court declares a person to be incapacitated when they cannot manage “at least some of the property” or fail to meet some “essential health and safety requirements” for themselves.
The court often initiates the process of appointing legal guardianship for "incapacitated individuals." The legal guardian is tasked with overseeing legal, financial and personal matters as needed.
A limited guardian is appointed by the court when an individual is deemed incapacitated in navigating the legal framework.
What happened to Wendy Williams?
Wendy Williams has been undergoing several health issues since last year. The anchor took temporary leave from her namesake TV program, The Wendy Williams Show, in July 2021 to focus on her health.
However, the 13th season of the show was delayed twice after Williams was diagnosed with a breakthrough case of COVID-19 while undergoing treatment for complications related to her longtime Graves’ disease.
Although she quickly recovered from COVID, Williams continued to face additional health challenges. Reports suggest that the 57-year-old was hospitalized for a psychiatric evaluation in September 2021 and remained under medical supervision.
Sources close to the TV star recently told People that Williams’ healing process is taking longer than initially expected and that she is still dealing with a “number of medical issues.”
The insider also clarified that rumors about the host who has dementia, stroke, or addiction are false. Meanwhile, actress and comedian Sherri Shepherd has reportedly been named the permanent guest host of The Wendy Williams Show.
