The number is $723 million dollars. Of that, $467 million for 52% of the company and $256 million in prejudgment interest. It involved the valuation of the private (and "S" corporation) Streck, Inc. Streck was founded in 1971 by Dr. Wayne L. Ryan. Dr. Ryan earned two degrees from Creighton University. He was a brilliant scientist and pioneer in the hematology field. He built a business that had sales of $102 million in 2014, adjusted EBITDA of $54 million and a gross profit of 77%. These are outstanding numbers.
Every lawsuit has a legal and personal aspect to it. In this case, the personal aspect is way more interesting than the legal ...
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Irrevocable spendthrift trusts in Nebraska
What is a spendthrift trust? The Nebraska Supreme Court says it is a trust that restrains both a voluntary or involuntary transfer of a beneficiary's interest. That means that the beneficiary can't sell it or give it away nor can his creditors or predators reach it.
One thing to appreciate about trusts is that a court will enforce the provisions of that document according to your written wishes. Your survivors and beneficiaries can't change the terms of a trust if the proposed change violates a material purpose of the trust. If the purposes of the trust are lawful, not contrary to public policy and are for the benefit of the its ...
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Disinheriting a Child
I always tell people that they have no right to an inheritance from a parent. I also tell people that debt comes before equity. All creditors must be paid by an estate before people listed in a will or trust get a dime.
That being said, you can disinherit a child but if you do so it has to be done correctly. The best way is to mention the child by name and then state that the child is to receive nothing or a token amount. It is not a good idea to list why this decision was made. In some cases, the child has received money from the parent during the parent's life.
In a recent case out of Douglas County, the deceased did not mention his ...
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