Wednesday, December 29, 2010
Sometimes even the most careful estate planning cannot prevent vicious court battles from erupting among family members. This is the case with Walt Disney’s descendants. When Disney’s youngest daughter died seventeen years ago, she left her twins and another daughter massive sums of money in trusts. One of the twins is currently in a legal battle with her father, and the other twin sides with the father. A Disney family advisor, a lawyer, and some relatives accuse the father of enriching himself from trust dealings, and he accuses the other side of attempting to seize control of the trust assets.
One thing that all the family members agree upon is their frustration with the court. The process has been very slow, and the legal fees are astronomical.
For details regarding the Disney family feud, see Robert Anglen, In the Valley, Heirs Embroiled in Disney Feud, The Arizona Republic, Oct. 8, 2010.
Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention. huge