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Is Anita Mui Family Trust a Failure Case?
Is Anita Mui Family Trust a Failure Case? In order to avoid the risk of mother's profligacy and cheating and ensure her to enjoy her old age, Anita Mui left her property to a trust company when she died. According to Anita Mui's wishes, the mother can only receive the living expenses regularly, but can't directly control the inheritance itself.
This case has been widely spread by many family trusts, as a typical case to illustrate the benefits of family trusts. However, several years after Anita Mui's death, his mother repeatedly filed irrational lawsuits against the trust company, demanding the dissolution of the trust and directly controlling the huge estate, resulting in high lawyer fees. After the trust company paid the lawyer's fee, it said that the trust property could no longer pay the rent for Meimei Nursing Home, and Meimei was driven out of the nursing home because of poverty. Anita Mui's original intention of setting up a trust failed. Many people regard this as "the loss of family trust".
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