37 min
7. Dead Hand Control You Can't Take It With You: The Life and Afterlife of America's Greatest Fortunes
-
- History
The will of Wellington Burt, a Michigan timber baron who died in 1919, created a trust for his $13 million estate that called for less than 1% of it to be distributed annually until 20 years after his last grandchild had died. Although his family would fight the will in court for the next 40 years, in 2011 a dozen lucky descendants of Burt’s ranging from 19 to 94 split a $100 million jackpot when the trust was finally dissolved.
The will of Wellington Burt, a Michigan timber baron who died in 1919, created a trust for his $13 million estate that called for less than 1% of it to be distributed annually until 20 years after his last grandchild had died. Although his family would fight the will in court for the next 40 years, in 2011 a dozen lucky descendants of Burt’s ranging from 19 to 94 split a $100 million jackpot when the trust was finally dissolved.
37 min