A trust might make complete sense. But when you add family dynamics to the equation, chaos can ensue.
This is exactly what happened when a millionaire decided to remove two of his biological grandchildren from his multi-million dollar trust plan.
In this episode, David Lenok is joined by returning guest Megan Gorman, a founding partner of Chequers Financial Management, to talk about the recent estate case concerning multi-millionaire Peter Bing disinheriting two grandchildren, Damien Hurley and Kira Bonder, and leaving them with nothing.
David and Megan discusses:
- How this level of miscommunication can happen in any estate plan, regardless of one’s wealth;
- How to protect your inheritance from creditors, ex-spouses and anyone else who might come knocking;
- How the language and definitions you use can determine what happens in your estate plan;
- Why a trust protector could have helped Peter Bing’s case;
- And more