Should a Stepmother Get Most of Dad's Estate?

Heck, no! Not in the eyes of dad's kids.

Latest example, the disputed will of King Ranch heir B.K. Johnson. Third wife prevails over adult kids in estate suit, listed as the third most popular article on the Investment News web site, indicates that such disputes aren't necessarily about money. It's a matter of principle.

Mr. Johnson’s children, his son’s widow and his eight grandchildren filed their suit against Ms. Johnson in 2003.

The case, advisers say, illustrates a problem that is becoming more common: wealthy clients grappling with what to leave spouses and adult children from former marriages, and the best ways to structure their estates.

Mr. Johnson, who died at age 71 in 2001, left an estate worth between $40 million and $60 million. The majority of the estate was placed in a trust for Ms. Johnson, who receives an annual income of $800,000 to $900,000 from the trust.

Upon her death, at least half of the money will go to charity, and the remainder to Mr. Johnson’s descendants or to charity. The choice is up to Ms. Johnson. Mr. Johnson included this provision to ensure that if one of his descendants were ill, Ms. Johnson would have the ability to provide money for that child.

Such help probably won't be needed. Mr. Johnson didn't exactly disinherit his offspring. During his lifetime he set up trusts for the children. Each trust is now worth $10 million or more.

Also unlikely to need financial aid are the lawyers who worked on the case. "Attorneys for Mr. Johnson’s children and grandchildren were awarded $6.25 million in attorneys’ fees," Investment News reports, "while lawyers for the estate were awarded $4.8 million."