Yesterday, Sheel Seidler, widow of the late San Diego Padres baseball owner Peter Seidler, filed an estate lawsuit against her brothers-in-law in an effort to seize control of the team following Peter’s death in November 2023. The lawsuit, filed in Travis County Probate Court in Texas, accuses the late owner’s brothers of breaching their fiduciary duties as trustees of the …
The Murdoch Family Trust: When Irrevocable is Revocable
Billionaire media mogul Rupert Murdoch established the Murdoch Family Trust in 1999, as a condition of his divorce from his second wife, Anna Murdoch Mann. The Trust ensures that the family’s 28.5% stake in News Corporation- which is valued at approximately $6 billion and includes Fox News, The Wall Street Journal and the New York Post- be passed down equally …
What are the responsibilities of a trustee?
When establishing a trust, it is essential to choose the correct trustee to help manage it. A trustee is an individual or entity entrusted with managing and administering a trust according to its terms and the best interests of the beneficiaries. The Role of a Trustee Selecting the Right Trustee Selecting a trustee is a critical decision in the estate …