Ever look over the will of a billionaire? Someone facing claims of billions of dollars by a trustee in bankruptcy. Click this link (thanks to the New York Times):
http://graphics8.nytimes.com/packages/pdf/business/20091110picowerwill.pdf
What a strange story. Jeffry Picower was facing gargantuan claims (with a pretty good defense for withdrawals older than 6 years).
He signed a new will on October 15, 2009.
He died of a heart attack in his swimming pool on October 25, 2009.
What is most fascinating to me about this will is how many employees were set to receive bequests, as long as they were still employed by Mr. Picower at the time of his death.
The whole story sounds too incredible to be true. It seems too planned. It can't be life insurance motives - doesn't make that much sense to me since he was really rich. Or, maybe life insurance proceeds from irrevocable life insurance trusts would be the only funds completely free from potential clawback?
If he did have any big life insurance policies, and I was the investigator for the insurance company, I would be looking into this! Maybe he signed his new will, cleaned up his affairs, and stopped taking his heart medication. Who is to say that the trustee wouldn't be able to go beyond the 6 year limit since Picower was as close to a co-conspirator as you get.
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