Walt Disney's grandchildren have been entangled in a complex family feud in Maricopa County Probate Court over their inheritance. The controversy was covered in depth by the Arizona Republic, and illustrates the problems that can arise when co-trustees, family and friends fight over an inheritance.The Money at Stake: Walt made sure his grandchildren were going to be well taken care of financially. Before his death, Walt created a trust which provided each grandchild with an estimated $20 million disbursement at the ages of 35, 40, and 45, in addition to substantial yearly distributions.
Among their duties, the trustees were responsible for evaluating whether the children were competent to receive the monetary distributions. Once the children received the money, they could use it as they pleased.
No Fairy Tale Ending: Although this story didn't have a fairy tale ending, the Disney family fight did end. The family reached agreement when Bill agreed to step down from his children's trust funds.
In a column he wrote for the Arizona Republic, Bill explained, "What has transpired over the past year has been pure torture. I have not been able to speak to my daughter in private for nearly a year."
This was certainly not the fairly tale ending Walt hoped for when he created the trusts.
Full Article and Source:
Walt Disney's Grandchildren Have Been Entangled in a Complex Family Feud in Maricopa County Probate Court Over Their Inheritance.
See Also:
Judge in Disney Case Orders Arrest of Lawyer
10 comments:
It is sad, indeed, when these family feuds have to end up in court, especially a corrupt court like that in Maricopa County.
Mediation would have been a far better solution.
No fairy tale ending because greedy lawyers got involved and kept the family at odds, in my opinion.
I hate this. I remember the video of Brad saying he just wants the danged court out of his life. Is his sister even listening to him?
Although there is a lot of money at stake here (which is what makes it such a news story), I do not believe this case is about money at all.
I think, like Thelma said, the problem is Maricopa County court which saw an opportunity to run up the fees rather than sit everybody down to talk it out.
The media likes to get a hold of a story like this...a wealthy family is a dispute. Then, they can make it all about the money instead of what it's really about.
The Lunds have been treated unfairly by the judge and I hope they have filed a proper complaint about it.
this proves no one absolutely no one is safe from the probate mob squad mr disney must be mad as ______ and ashamed of the usa disney is an icon how many people in the usa directly and indirectly were able to provide for their families for how many decades due to the genius of mr disney and his company prayers for the disney family that they prevail in all they do to change business as usual and then i hope they go after the thugs without mercy
I think greedy lawyers got involved and manipulated the daughter here and then feed feul to the fire.
I hope the daughter comes to NASGA. I hope the whole family does!
This case has a very familiar theme, the lawyers using a family member at a time of vulnerability in order to get the case enabling protection racket to get the money.
Disney family member who went astray has no way to stop the probate machine, once the engine is running, the process to terminate the case will take a lifetime for the well oiled machine to run out of gas (depending on the net worth of the ward).
Pattern of operation is on page one of their manual folks this is happening nationwide.
Whose story will be next here at the NASGA blog?
Of course, the attorneys kept the family at odds. It doesn't work out well for them when everyone gets along.
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