Thursday, January 6, 2011

Good for Her

Politico reports that the late Elizabeth Edwards cut her husband out of her will. If she did, good for her. No one should inherit from his wife after making such a public mockery of their marriage.

However, Politico is jumping the gun. They correctly identify a document they link to as Edwards' will. However, the only thing that document does is make a bequest of her "tangible personal property". The real money is in the residue. That, according to the will, is disposed of by a trust to which the will conveys the residuary estate. That trust, unlike her will, is not a public document.

We don't know what the trust does with her residuary estate. In fact, the primary purpose of using the trust is to prevent people like Politico and Inside Edition from finding out what she did with her residuary estate.

Good for her again.

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