Disney has become a titan of the entertainment industry.
Walt Disney started as a young child from Kansas City with big dreams and a creative mind.
Years later, he became a successful visionary and filmmaker.
The Disney name and company has become one of the most valuable in the world.
According to a recent Wealth Advisor article titled “Disney Family Feud As Heirs Battle For $400 Million Trust Fund,” the company is worth about $130 billion.
The Disney family does not own the full amount.
The family holdings in the company were reported as less than 3 percent by Roy P. Disney.
How much would this be?
The fortune would be about $3.9 billion in Disney holdings alone.
Walt was a family man.
He married Lillian Bounds in 1925.
They had one daughter together and adopted their second daughter when she was an infant.
Walt had 10 grandchildren whom he adored.
Before he died, he created family foundations and trusts for his family.
Two of his grandchildren ended up fighting with the trustees of their $400 million trust fund.
Michelle received her disbursements.
The disbursements for her twin Brad were withheld.
Their father had been a trustee.
He resigned because it was alleged he had gained more than $3 million in kickbacks from a real-estate deal.
It was reported he agreed to an annual $500,000 settlement.
What can you learn from this?
While setting up trust fund is important, selecting the trustee and then providing clear instructions is vital.
Reference: Wealth Advisor (Feb. 11, 2020) “Disney Family Feud As Heirs Battle For $400 Million Trust Fund”