Case Study
Prevailing in $25 Million Trust Dispute
Prevailing in $25 Million Trust Dispute When Fiduciary Trust International of California found itself in a dispute with a decedent's marital trust over payment of $25 million in estate taxes and other expenses, it turned to Holland & Knight's Trusts, Estates and Fiduciary Dispute Resolution Team to navigate the matter. The dispute centered on an interpretation of a payment provision contained in a marital trust that had been established many years earlier. Willet H. Brown, a California radio and television pioneer, had amassed a considerable fortune by the time he passed away in 1993. He and his wife of 45 years, Betty R. Brown, entered into a premarital agreement that essentially left Betty penniless when Willet died. However, Willet had established a testamentary marital trust for Betty.