Patrick Owens Quoted in Wealth Management

Legal Battle Over the Control of Jimmy Buffett’s $275M Estate Heats Up

By: Anna Sulkin Stern

“Typically, this may be a long, drawn-out court battle with serious accusations raised in the complaint,” said Patrick D. Owens,  shareholder in Buchalter’s Chicago office and a member of the Tax, Benefits & Estate Planning and Litigation practice groups. As for whether judges tend to side with spouse co-trustees, “Judges will usually take an unbiased look at the actions of the trustees. The judges will also often favor the choice of trustee of the grantor of the trust,” added Owens. It’s also important to keep in mind that protracted litigation can deplete assets in the trust, as trustees can likely use trust assets for their legal defense, Owens explained.

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