Several weeks ago, we learned the embattled millionaire Stanley Marsh 3 no longer owns the famous Cadillac Ranch art installation off Route 66 near Amarillo, Texas.
On Sunday, an in-depth report by the Amarillo-Globe News indicates Marsh may have lost ownership of Cadillac Ranch in 2011.
The newspaper reported that Marsh’s wealth is caught in a web of trusts, foundations, and corporations. Another section of the report indicates Marsh no longer held control over Cadillac Ranch about 18 months ago:
Marsh 3’s financial affairs are now run by former attorney David Weir because Potter County Court at Law Judge W.F. “Corky” Roberts conditionally found Marsh incapacitated in October 2011. A final judgment of mental incapacitation was filed this year on Oct. 26 by Potter County Clerk Julie Smith.
A power of attorney document executed in 1986 gives Weir control of Marsh 3’s business affairs while Roberts awarded Wendy Marsh guardianship in November 2011 to oversee Marsh 3’s daily life.
Terms of the guardianship say Marsh 3 is no longer allowed to drive, vote, divorce, change his will, decide on medical or dental care, choose his residence, access government assistance, make gifts of property, sign contracts, seek a job, or hire or fire people who assist him.
It’s likely Cadillac Ranch is controlled by one of Marsh’s associates or trusts.
Marsh recently was indicted by a grand jury on child sexual-abuse charges, after being criminally charged on similar counts in November.
In mid-February, Marsh settled out of court with 10 alleged sexual-abuse victims. An attorney for the plaintiffs stated that Marsh no longer was owner of Cadillac Ranch, but did not elaborate.
At one point, an attorney of one of the accusers and a few locals debated whether to tear down Cadillac Ranch if Marsh were found guilty. However, it appears that sentiment has cooled.
Marsh didn’t create Cadillac Ranch in 1974, but owned the land. Chip Lord, Hudson Marquez, and Doug Michels of the Ant Farm art group came up with the concept.
A second in-depth article about Marsh’s colorful life also is worth reading.