Intro students Part 3

Intro students Part 3 - Chapter 1 Part 3 Spring 2009 A516 1...

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1 A516  A516  Chapter 1 Part 3 Chapter 1 Part 3 Spring 2009 Spring 2009
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2 PRESERVATION OF THE ESTATE Squandering the estate
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5 Charles Kuralt 1957-59   CBS Evening News  1960-61   Eyewitness to History   1967-80   On the Road  1979-94  CBS News Sunday Morning   1980-82  Morning With Charles Kuralt
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6 On the Road Again and Again and Again (March 25, 2000) After CBS "On the Road'' host, Charles Kuralt died at age 62 in 1997, his widow, Suzanne "Petie'' Kuralt, got a few surprises. At the funeral, she found out her husband—a beloved celebrity—had had a two-decade affair with a woman named Patricia Shannon. The discovery was made when Shannon’s attorney, showed up at the funeral with a letter to Shannon from Kuralt. As if news of the affair weren’t enough, Mrs. Kuralt also learned that her husband had given the “other woman” hundreds of thousands of dollars, a cabin in Montana, and a cottage in Ireland. In addition, according to the letter, he apparently intended to leave his mistress another 89 acres, valued at $600,000, adjacent to the Montana home. If this weren’t enough, Kuralt’s notarized will had left the land to his previous wife and two daughters of that marriage. Mrs. Kuralt died last year, thus, she missed what would have been yet another kick in the stomach this week. In 1998, a district judge ruled the property belonged to Kuralt's estate, but the Montana Supreme Court overturned the ruling. Wednesday (March, 2000), the judge ruled that because Kuralt wrote a letter to Shannon 16 days before he died that said he wanted her to inherit the land, his paramour should get it. It didn't matter that Kuralt's notarized will said otherwise!
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8 PRESERVATION OF THE ESTATE Professional management
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TRUSTS FOR PROTECTION PRESERVATION OF THE ESTATE Beware, your assets  are under attack by  creditors, customers,  employees, partners.   There risks from  divorce settlements,  probate, the IRS and  more… 
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10 PRESERVATION OF THE ESTATE Squandering Professional management Liquidity
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Intro students Part 3 - Chapter 1 Part 3 Spring 2009 A516 1...

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