GayCityNews - Maine High Stakes Adoption Dispute: "A technical ruling about lawsuit filing requirements by the Maine Supreme Judicial Court on January 9 brought to light an extraordinary dispute about a claim by a former lesbian partner of an heir to the fortune left by the late chairman of IBM, Thomas J. Watson, Jr.
At stake is a share of a multi-million-dollar family trust intended for Watson's grandchildren.
Watson had employed an estate-planning device common in wealthy families, setting up trusts to benefit his children and grandchildren rather than parceling out property and other assets through a will that can spark an expensive and potentially time-consuming probate court process.
By the terms of the trusts, at the point at which both Watson and his wife Olive had died, beneficiaries would vest, or gain non-forfeitable rights to their share of the assets, which they could claim at age 35."
Wednesday, January 31, 2007
Maine High Stakes Adoption Dispute
Posted by Blogger Admin at 11:30 AM
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