Estates - Law - Wills - Trusts - Probate Court - Litigation (PowerPt,FCs,Test)
This product consists of three parts:
1) A complete Powerpoint presentation on the law of estates with an array of the most hotly contested cases in America in estate law.
2) Flashcards for review of the presentation.
3) a multiple choice 20 question test with answer key.
This product has MANY ACTUAL SLIDES IN THE PREVIEW. Those slides are the best indicator of this product's quality. Estate litigations include:
Brooke Astor (inherited Astor money),
Leona Helmsley, (Helmsley Hotels),
J. Seward Johnson (Johnson & Johnson Co.),
Fred Koch's 4 sons (Oil; Tea Party Founders of John Birch Founder father),
Jay Pritzker (of Hyatt Hotels)
Ted Williams (star baseball player)
J. Howard Marshall II (Playmate Widow Anna Nicole Smith) Oil
Sumner Redstone (competency, guardianship--media empire)
James Brown (Godfather of Soul)
First there is a two page overview of Estate Law, which begins:
~ For those students of the law who are somewhat jaded by too many murder cases, there are other areas of the law which are close seconds for savagery and passion. Estate Law, or the Law of Wills and Trusts, is one area renowned for its blood lust in legal circles.
~ This presentation covers high profile cases from the wealthiest families in America who use the courts to wrest the most money they can out of the estate. Before we vault into the cases, a brief overview of estate law should be helpful.
~ Except for the federal tax aspects, this is a matter of state law. Each state’s law must be followed in setting up valid Wills, Trusts, Guardianships and the like.
~ If one does not draw up a Will, one dies intestate. Then the state statute of intestate distribution must be used to follow its formula on who is awarded which property.
(this overview continues until all major concepts are covered)
TEXT EXCERPT (one of the cases):
~ Fred Koch Estate Valuation: $5.6 billion
~ Amount contested: $2.3 billion
~ Feuding parties: four brothers in 2 sets
~ Fred Koch was co-founder of the energy conglomerate Koch Industries. He was also founder and financier of the ultra right John Birch Society.
~ Fred Koch had four sons: Charles, David, Frederick and Bill.
~ issue: whether two of the brothers, Charles and David, cheated the other two, Bill and Frederick, out of $2.3 billion when they sold their shares of Koch Industries in 1983 for around $1 billion.
~ Some background: Fred Koch of Wichita, Kansas, was a staunch anti-communist who drilled his political ideology into his sons. He was sympathetic to the fascist regimes ruling Germany, Italy and Japan in 1938. Fred wrote that he hoped America would resemble these Axis powers which had, “overcome the vices of idleness, feeding at the public trough, and dependence on government.”
~ Fred also liked to see his sons physically fight one another. One hit the other over the head with a polo mallet. Another used a ceremonial sword to pierce his brother in the back. All OK with Fred, sowing the seeds for future discord.
~ Fred recognized his eldest, Frederick, was effeminate (gay was the reality) so he bypassed him for his business, using his brother, Charles, instead. In 1966, he turned over day-to-day management of his company to Charles.
~ Charles’s younger brother, David, joined him. The two changed their father’s medium-sized oil refining business, into Koch Industries, one of the largest privately held corporations in the world.
~ Fred died in 1967 of long term heart disease at age 67. William and Frederick inherited Koch Industries stock. Charles wanted to buy them out.
~ When Frederick refused, Charles sunk to a homosexual blackmail attempt to force him. When Bill (William) refused to sell, he threatened revelations about his personal life, including Bill’s domestic violence against his wife Angela.
~ In 1983, Bill and Fredrick did sell their stock for $800 million in a sale to their brothers, Charles and David. Legal disputes against Charles and David lasted some two decades over allegations that Bill and Frederick had been cheated out of its true value. The four brothers settled their legal differences in 2001.
~ Charles and David are best known to the public for bankrolling the Tea Party Movement.