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Texas Tech Univ. School of Law

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Monday, September 30, 2013

Trump Decides to Split his Business Among his Children After Death

DonaldtrumpDonald Trump has decided that his three oldest children will inherit his real estate business after his death. Donald Jr., Ivanka, Eric, and the children's mother Ivana will control the Trump organization. Trump was quoted saying “I think, and I hope, for their own sake, that they’ll be able to get along…It’s not a deal where there’s going to be one person succeeding me." Each child will be in charge of a particular aspect of the organization. Ivanka will probably be the lead negotiator since she has negotiated some of the organizations largest deals. Donald Jr. has previously worked on leasing, and Eric the youngest Trump will probably be in charge of construction. Trump's decision to pass on his organization equally amongst his children is unusual because most real estate businesses do not have more than one heir. Some empires passed down to multiple heirs have decided to split to avoid family litigation. Trump acknowledged the danger for family drama and hopes that the siblings will continue to work together.

See Hiten Samtani, Donald Trump Plans To Split His Real Estate Empire Evenly Among His 3 Oldest Kids, Business Insider, Sep. 16, 2013.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/09/trump-decides-to-split-his-real-estate-business-evenly-among-his-children.html

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Comments

"All three of his children" is inaccurate; Donald Trump has *five* children.

Posted by: The_Lady_M | Sep 30, 2013 11:20:59 AM

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