Twins Georgia and Walker Inman are the great-grandchildren of Nanaline and James “Buck” Duke, the founder of American Tobacco, and have each been left trust funds estimated at $14 million. Recently, their mother Daisha Inman has been making grabs at her children’s funds. In fact, she has tried to get access to the money in order to purchase a $29 million ranch in Utah. Prior to that, the mother had requested the funds to purchase a $4.3 million home in South Carolina.
Daisha recently uprooted her 15-year old children from their home and school and holed them up in a Park City hotel, costing $120,000 a month. This happened despite the fact that the mother had formerly promised the trustee, JP Morgan, that she would locate a suitable and reasonable rental property for her and her children. The mother’s request to purchase the ranch, even at a discounted price of $15 million, was turned down by the trustee.
Daisha is back on the road with her children again according to reports which state that the St. Regis hotel, where they’d been staying at, reported that she had recently checked out. There is no word of where the mother and her children have gone yet or where they are heading.
Because the twins are minors, the trustee is set up to protect their funds that are held for them until they are of age, or until the dictates of the trust stipulate. The trustee is responsible for using the funds to pay for the needs of the beneficiaries until they fully inherit. These costs would include funds for school, extra-curricular activities, lessons, travel and other costs.
Because a trust was set up, the estate has been protected against an unscrupulous mother who has even still taken steps to try and drain the funds away from her own children. Many of us have individuals in our family that are not trustworthy with their finances. We see many situations where individuals get a large windfall and are broke in a matter of months or a year. Creating a trust provides protections against these problems and many others.
For more information or to schedule a free consultation, contact our office today at 888.222.1328.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead. Contact us today at 888.222.1328 to schedule an appointment!
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.