Lumber Baron's Heirs Finally Inherit Estate 5-24-2011 - WNEM TV 5

Lumber Baron's Heirs Finally Inherit Estate 5-24-2011

The descendants of a Saginaw lumber baron have finally received their inheritances, nearly a century after the man's death -- just as he intended it.
The Saginaw News reported Tuesday that trustees for the $110 million estate of Wellington Burt distributed the money to 12 heirs by a Monday deadline. That's about $9.1 million per heir before taxes.
The distribution ends a big bucks battle that began when Burt died in 1919. He stipulated the bulk of his estate would be distributed 21 years after the death of his last surviving grandchild, which came in 1989.
Family members twice were able to legally siphon some of the estate, and the trust's validity twice came before the state's Supreme Court.
Inheritors are three great-grandchildren, seven great-great grandchildren and two great-great-great grandchildren, ranging in age from 19 to 94.
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