Wills, Trusts & Estates Prof Blog

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

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Tuesday, July 1, 2014

Lawyer Wants $1 Million to Run Trust Despite Not Knowing How it Works

Money BagA hearing in the New South Wales Supreme Court is currently trying to resolve whether lawyer Gary Reardon should be paid his requested $1 million fee to run the Rinehart family trust. The trust is worth $5 billion. Reardon is asking for almost half the amount that is paid to beneficiaries annually, even though he failed to be able to tell the court how the trust works, including where its money comes from.

See, Lawyer Wanted $1M to Run $5Bn Rinehart Trust, SBS, June 25, 2014.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/lawyer-wants-1-million-to-run-trust-despite-not-knowing-how-it-works.html

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