ORONO — The estate and fortunes of the late Irwin Jacobs and Alexandra Jacobs have come into question as their children reportedly challenge the will and delay an estate sale at the Jacobs’ Orono home.
The Star Tribune reported on Sept. 19 that Mark Jacobs, the son of Irwin and Alexandra Jacobs, said that Irwin Jacobs’ debts totaled over $110 million.
Evidence of this can be found in Irwin Jacobs’ contested will court documents. Three organizations filed claims that were not dismissed to the Jacobs estate for debts owed — Polaris Sales Inc. for an agreement made for an untold amount of money, The Venetian Resort and Casino/The Palazzo Resort and Casino for $960,000 in outstanding balance and Community Financial Services Bank for nearly $3.4 million for a past deal, court documents show.
Irwin and Alexandra Jacobs’ daughter Randi Jacobs also made a claim both for herself and her daughter, which were dismissed, court documents show.
The Jacobs’ estate sale, scheduled for Sept. 12 was delayed “due to unforeseen family circumstances,” according to estate website. The Star Tribune reported Randi Jacobs halted the estate sale with a court order to establish certainty over the estate of Irwin and Alexandra Jacobs.
Alexandra Jacobs died on April 10, 2019. She was shot by her husband, Irwin Jacobs, in their Lake Minnetonka home. Irwin Jacobs then shot and killed himself, according to the medical examiner.
Alexandra Jacobs was an accomplished painter and sculptor, a student and supporter of the Minnetonka Center for the Arts in Wayzata. Irwin Jacobs was a prominent Twin Cities businessman, he was the CEO of the now-bankrupt Genmar Holdings and the founder of Cable Value Network and a minority owner of the Minnesota Vikings in the 1980s.