Big Trust for Teenager

A huge trust battle is brewing over a trust valued at almost $500 million for a boy, now 13, who will receive the corpus when he reaches 35.

The fight centers around claims that the trustees have paid themselves unreasonably large fees.

This is a fascinating case and I commend this article to you:  Robert W. Welkos, A boy and his $400 million, LA Times (Sept. 13, 2005).

Special thanks to Prof. Al Brophy of the University of Alabama School of Law and his student, Andrew Cameron, for bringing this case to my attention.