Boies Schiller Flexner partner Prateek Swaika was quoted in an article by Spear’s about succession planning for high-net-worth individuals.
The article touches on Rupert Murdoch's recent attempt to remove three of his four children from managing the Murdoch Family Trust, giving all voting power to his oldest son. The focus of the article is whether succession planning needs to be “fair and equal” among heirs.
“Often, high-net-worth individuals or ultra-high-net-worth individuals will be assessing and reassessing the influence and collaboration and the assistance that they have had from people during their lifetime. They want to leave their estate in a particular shape or vision that they believe somebody will carry forward in a better way,” said Prateek.