A Corporate Executor and Trustee is Worth Fighting For

Real estate bigwig and philanthropist George Kaufman changed his will shortly before his death, removing his longtime lawyer as executor and trustee. Now the lawyer has gone to court, claiming the changes are the result of elder abuse by Kaufman's wife.

Kaufman's will divides his estate among various individuals and creates a charitable foundation. The final amendment designates Bessemer Trust as executor and trustee.

The choice of a trust company, The Wall Street Journal reports, has drawn the approval of New York State officials:

The office of New York’s attorney general, which supervises charities in the state, has supported Bessemer, calling it a “disinterested, neutral corporate fiduciary.” The attorney general’s office accused [the lawyer] of being motivated by his own financial interest and holding up the creation of the charity.