Man's relatives set for inheritance payout - 92 years after his death

clock

Most advisers are lucky if they can get clients to even consider making a will, but Wellington Burt was one man who didn't need any encouraging.

The Michigan lumber tycoon, pictured, died in 1919, but thanks to his bizarrely complicated will, his descendents will not get their inheritance until the end of this month; that's a 92 years after his death. Burt left a multi-million fortune when he died, but specified, either out of spite, eccentricity or a combination of the two, that the cash could not be released until 21 years after the death of his last surviving grandchild. The nest egg is now worth a whopping £67.5m. Marion Lansill, the last of his grandchildren, died in November 1989, triggering a countdown that ended last N...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •