An estate owner does not necessarily need a reason to leave disinherit someone.
Bill Marriott has disinherited his son John Marriott III.
According to a recent The New York Post article titled “Marriott heir sues dad for booting him from family trust over divorce,” this was done because John had divorced his wife in 2015.
John is now bringing a lawsuit against his father Bill and his uncle Richard for taking away his share of the $3 billion family trust.
He claims they forced him into financial ruin by breaching their fiduciary duties simply because he did not portray the perfect Mormon image.
Does he have a case?
This will be for the court to decide.
Are you considering disinheriting a child?
There are many valid reasons for doing so.
Perhaps your child suffers from substance abuse and you do not wish to fund their addictions.
Perhaps they are married to an unsavory character who should not be trusted with your assets.
If any of these situations sounds familiar, you have options.
Work with an experienced estate planning attorney to create a plan to meet the needs of your family.
So, how do you find an "experienced" estate planning attorney?
First, ask around. Friends, family and other professional advisors are trustworthy sources.
Second, conduct an "organic" search on "Google" for "estate planning" near you (e.g., "Estate Planning Anytown MoKan").
Third, either way, verify! Check out the education, experience, ratings and client reviews of any attorney before you contact him or her.
In fact, I use both of these services to thoroughly vett attorneys before referring members of our "client" family for legal help in other areas of law or for matters in jurisdictions outside Kansas or Missouri.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: The New York Post (October 31, 2017) “Marriott heir sues dad for booting him from family trust over divorce”