Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, October 30, 2012

Duke's Heirs are in the "Poorhouse"

TrustsThe teenage heirs of Doris Duke, Georgia Inman and Walker Patterson Inman III, have found themselves in a peculiar financial position. The two teenagers are set to inherit a trust worth $1 Billion when they turn 21. At the moment, however, they are in the custody of their biological mother, Daisha Inman. Currently, there is one crucial conflict in the support of the two teenagers. The conflict has mostly occurred between their mother and the trustee of Doris Duke's trust, JPMorgan. Reportedly, Daisha has made several requests from the trust for their care. JPMorgan has reportedly refused many of her requests. As a result, Daisha blames the trustee for the recent financial hardship that her and her children have faced. Her primary argument as to why the trustee should grant their request is because that she claims that the "children are not used to [have] financial restraints on them." She also stated that her children felt as if they are poor now. In fact, DNAinfo.com, reported that the children spent $180,000 on living expenses while they were living with their father. In response to the number of requests that Daisha has made, JPMorgan has "asked for guidance from the Manhattan Surrogate Court on how to address the financial requests."

See James Fanelli, Doris Duke's Teen Heirs Battle Being 'Poor' While Waiting for $1B, DNAinfo, Oct. 25, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2012/10/dukes-heirs-are-in-the-poorhouse.html

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