In an American Lawyer article about the emotional and often times expensive nature of high-end private client matters, Partner Joshua Rubenstein, National Chair of Katten's Private Wealth Department, offered his perspective on the economics of such matters. An ongoing high-profile trust trial in Reno, Nevada, as an example, has drawn global attention as a founder's children battle for control of his media empire. This case highlights the lucrative nature of trusts and estates litigation, as noted by Josh: "Trusts and estates litigation is not fee-sensitive in the slightest. People are trying to prove a point, and it's frequently not a commercial decision; it's really about who loves who more." The trial underscores the importance of contingency planning and the complexities involved in managing wealthy estates. This case exemplifies the growing demand for private wealth services, driven by the transfer of wealth from Baby Boomers to their heirs and the increasing complexity of family offices.
"Rupert Murdoch Trust Trial Underscores Lucrative Nature of High-End Private Client Practices," American Lawyer, October 2, 2024
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Partner and National Chair, Private Wealth Department+1.212.940.7150
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