"The case offers an important lesson: hire a bank or trust firm. "

Corporate fiduciaries get an endorsement in today's Wealth Report post on estate litigation. The Wang fortune, mentioned by JLM here, is touched upon, as is a controversy involving the surviving spouse of diet guru Dr. Robert Atkins. The wife fired the advisors nominated by Atkins in his will, and now she has fired the successors as well. A trust department should have been in charge from the beginning, opines the Journal.

The case offers an important lesson: hire a bank or trust firm. Sure, they can be irresponsible too. But if Dr. Atkins had hired a private bank or trust company to give advice to Veronica - who had little financial experience - she might not have been vulnerable to all manner of advisors and “friends.”