Following up on the most recent post. The 21 and 17 year old daughters of Maurice Laboz, who left them each $10 million in trust but provided that they can receive the funds earlier if they meet certain conditions, are reportedly going to court this week to challenge the list of conditions. Their mother is also set to contest the will of her estranged husband.
Several quick points:
1. As stated ad nauseam here, the grounds for contesting a will or trust are two: lack of mental capacity or undue influence. The detailed conditions imposed by Mr. Laboz show a clarity of thought which rules out lack of mental capacity.
2. Infrequently, the terms of a trust can be challenged because they are against public policy such as when a trust prohibits a beneficiary from marrying a person from a different faith or race.
3. Rather than being against public policy, some would argue that it is good public policy to keep millions out of the hands of 21 and 17 year old beneficiaries.
4. Others would also argue that it is good public policy to prohibit teens and 20-somethings from adding to the national tattoo epidemic.
