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Feuding Over Election Could Prove Costly for Rich U.S. Families

Oct. 22, 2020, 11:00 AM

The plan was simple: Divide the family fortune in three, one part for each lucky heir.

Then talk turned to politics – and the kids blew it. Miffed by their children’s views, the wealthy parents opted for a single trust, with a trustee to mind the money.

You think your dinner conversations are uncomfortable? Stories like that one, recounted recently by a wealth manager in the battleground state of Wisconsin, are playing out more and more inside some of America’s richest families.

The nation’s painful divisions – over the 2020 election, the pandemic, race and more – have opened rifts ...