2013 Wall Street Journal Money Magazine Notes Unusual Bequests

I Leave My Fortune To…estate planning, wills

A Chinese restaurant? Some large and unusual bequests:

1. Roman Blum, U.S.

Worth about $40 million | Died: 2012

When the real-estate developer died childless and without a will, he left behind the largest unclaimed estate in New York state’s history. Experts say that in most of these cases, the money ends up in the state coffers.

2. Wellington Burt, U.S.

Worth about $100 million | Died: 1919

The lumber baron and former Michigan state senator took his own sweet time with his bequest. He wanted his fortune handed out 21 years after the death of the last grandchild, who was born while he was still alive. The money was finally distributed to 12 heirs in 2011.

3. Golda Bechal, U.K.

Worth more than $15 million | Died: 2004

The property magnate left her fortune to a couple running her favorite Chinese restaurant. The unusual friendship, which began over a dish of Chinese pickled leeks and bean sprouts, extended to shared Christmases and other holidays.

4. Nina Wang, Hong Kong

Worth about $10.7 billion | Died: 2007

A long-drawn battle over Wang’s will unfolded when it revealed she had left her money to her personal feng shui guru. The Hong Kong court later ruled the bequest to be a forgery by the geomancer, who recently appealed a prison sentence for fraud. The money has gone to charity.

It is always interesting to see how wealthy persons plan…or don’t.  So what’s your plan?

 

Source:  Wall Street Journal 2013 Money Magazine

 

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning.  She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about.  Annino recently released an updated version of her successful book, Women and Money: A Practical Guide to Estate Planning to include recent changes in the laws that govern how we protect our assets during and beyond our lifetime.  To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

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