Lessons from celebrity-estate planning cases for advisors.
Celebrity Estates: Elizabeth Hurley's Son DisinheritedCelebrity Estates: Elizabeth Hurley's Son Disinherited
Multi-millionaire Peter Bing disinherited two grandchildren born out of wedlock, Damien Hurley and Kira Bonder, leaving them with nothing.
A trust might make complete sense. But when you add family dynamics to the equation, chaos can ensue.
This is exactly what happened when a millionaire decided to remove two of his biological grandchildren from his multi-million dollar trust plan.
In this episode, David Lenok is joined by returning guest Megan Gorman, a founding partner of Chequers Financial Management, to talk about the recent estate case concerning multi-millionaire Peter Bing disinheriting two grandchildren, Damien Hurley and Kira Bonder, and leaving them with nothing.
David and Megan discusses:
How this level of miscommunication can happen in any estate plan, regardless of one’s wealth;
How to protect your inheritance from creditors, ex-spouses and anyone else who might come knocking;
How the language and definitions you use can determine what happens in your estate plan;
Why a trust protector could have helped Peter Bing’s case;
And more
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