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Trustees claim mental incompetence, stop paying Disney's grandson

For people in Miami-Dade, and elsewhere, there are a number of estate planning options that can be used both to convey your final wishes and to establish how you want any assets you may have distributed after your death, and by whom. Particularly for sizeable sums, many people choose to establish trusts as a means of gifting an inheritance. While many trusts have trustees who oversee them and ensure that the terms are fulfilled, there are some situations in which a trustee may stand in the way of an heir receiving their trust or trust payments as intended.

According to reports, the trustees charged with the administration of Walt Disney’s grandson’s trust, left to him by his mother, have refused to pay him as specified in the terms of the trust. The man’s mother, Disney’s daughter, reportedly set up trusts for him and his sister from which they were to be paid annual payments, with lump sum amounts being paid every five years. It was reported that, after a dispute involving him and his father versus the trustees while his sister was in a coma, the trustees stopped paying.

The trustees reportedly claim that the man suffers from a condition that has diminished his ability to make sound financial choices. According to reports, in addition to alleging mental incapacity, the trustees have also suggested that the man’s father had taken advantage of that condition in order to gain for himself. For his part, the man argues that their claims are untrue and has filed a lawsuit to try and have the control of his trust removed from the current trustees.

If you are considering establishing a trust, you may consider consulting with an attorney. A lawyer can help ensure you have selected the appropriate trust option for your situation.

Source: NBC News, “The Disneys: Not the happiest family on Earth,” Mike Taibbi and Andrew Blankstein, Nov. 23, 2013

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