The Descendants Shows Us Two Lessons in Estate Planning
Kris Helms | February 1st, 2012 | No Comments »The Descendants Shows Us Two Lessons in Estate Planning Last weekend, I took my wife to see “The Descendants,” starring George Clooney. Critics have widely praised the movie for its multi-layered look at family relationships stretching from the central characters’ immediate family to its multiple branches, and ultimately reaching back to the settlement ofHawaii. The film has been nominated for several Academy Awards including Best Picture. George Clooney portrays a real estate attorney who is also the trustee of his family’s dynasty trust which must end soon because ofHawaii’s Rule Against Perpetuities, an ancient English common law doctrine generally preventing trusts from extending more than 21 years beyond lives in being at creation of the trust. Clooney’s family trust owns more than 50,000 prime acres of Kauai oceanfront, and Clooney must decide between selling the land to competing offers or keeping the land in the family by spinning
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