Lawyer Explains: How Rupert Murdoch RUINED His Trust

[@antoniobrasse7157]

Great video. I'm a CPA as well as well as a CIA, CFSA, CISA and CAMS and launching my own startup and have done a lot of audit work around estate planning and wealth management and am always involved in wealth management and asset protection conversations. This video really outlines how there is no one size fits all. As for Murdoch, I don't know if I'd say having an irrevocable trust was the wrong choice but more that he put the wrong people in charge of it. Should have paid a law firm and not have it be family. Billionaires around the planet have offshore irrevocable trusts to both protect themselves from lawsuits and creditors and also some or all of the income generated could be indefinitely tax deferred (US sourced income taxed unless its sitting in a self directed Roth 401k or IRA).

[@50Options]

My life partner and I hired one of St. George, UT's attorneys to do RLT about two years ago, and we paid about $2,500 for each RLT. My life partner passed a few months later. I highly recommend that everyone set up one. It will save you stress and protect you from probate and court battles, among many other benefits. For Mark K to charge $2,500 is just a drop in the bucket.

[@tonymartinez5885]

Great info, as always.

[@jehuhand8176]

The sad thing is that the majority of lawyers in this arena lack competence.