Hermes billionaire wants to bequeath fortune to his former gardener

[JEDI]

Nicolas Puech: Hermes billionaire wants to bequeath fortune to his former gardener | CNN Business

lite.cnn.com

Wished @ponyo was still around.
(Ponyo buys $100k Hermes scarves for his wife)

 

[Torn Mind]

If he set up an irrevocable trust to the charity, backing out is going to be a bit difficult. If the "contract" is something less binding, like a revocable trust, I don't see how he can't back out.

Maybe old man Hermes was informed about a flaw in his succession plan?

 

[WilliamM2]

If he set up an irrevocable trust to the charity, backing out is going to be a bit difficult. If the "contract" is something less binding, like a revocable trust, I don't see how he can't back out.

Maybe old man Hermes was informed about a flaw in his succession plan?

It was right in the article. If he has a son, that son will get 50% of the shares. So if he legally adopts him, it should be no problem. The other half still goes to the foundation.

I'll bet someone with $13 billion has very good legal advisors...

 

[IronWing]

The gardener…

 

[Torn Mind]

It was right in the article. If he has a son, that son will get 50% of the shares. So if he legally adopts him, it should be no problem. The other half still goes to the foundation.

I'll bet someone with $13 billion has very good legal advisors...

Those two sentences are disjointed and the latter could be interpreted as him fathering a biological son.

Regardless, this "contract of inheritance" might very well be similar to an irrevocable trust, in that canceling it will not be easy and thus the original intended recipient is going to court over this change of plans. https://max-eup2012.mpipriv.de/index.php/Contracts_of_Inheritance_and_Joint_Wills

Something happened to cause one, the change of heir, and two, believing it's worth cost of a legal battle, for him to pull out this adoption tactic. The why behind the decision is veiled at the moment.

 

[WilliamM2]

Those two sentences are disjointed and the latter could be interpreted as him fathering a biological son.

Regardless, this "contract of inheritance" might very well be similar to an irrevocable trust, in that canceling it will not be easy and thus the original intended recipient is going to court over this change of plans. https://max-eup2012.mpipriv.de/index.php/Contracts_of_Inheritance_and_Joint_Wills

Something happened to cause one, the change of heir, and two, believing it's worth cost of a legal battle, for him to pull out this adoption tactic. The why behind the decision is veiled at the moment.

Not sure how they are disjointed. But you're the lawyer...

 

[nakedfrog]

Not sure how they are disjointed. But you're the lawyer...

No, no, I'm sure Torn Mind has a full and complete grasp of European inheritance law that greatly exceeds that available to a simple old money billionaire's legal staff.

 

[Torn Mind]

Not sure how thet are disjointed. But you're the lawyer...

Seems like you've never had any experience, even non-professional with regards to inheritance. Bitch, my dad died and left a will trying to even grant custody of me to my half-sister. Only thing is, that stuff isn't cover by wills, but statute, so I was shuttled of to my mother.

Or, we battle it out with SAT reading comprehension scores. Maybe you got 700 or higher.

I was a sports fanatic and used rabidly follow media reports regarding the team.

One, you didn't catch the word "reportedly". That's about the same as journalists saying allegedly. Two, they don't even cite sources.

Three, they didn't report "there is a clause in the contract". CNN's journalists could be citing mere intestacy laws.

Also, sentences two and three complete a complete reversal, in addition to the trust ready to battle it out in court.

Or the direct quote, “From a legal point of view, a unilateral cancellation of the contract of inheritance seems void and unfounded,”. So, the Isocrates Foundation calling it a cancellation. If a provision was in the contract...they can't say it's being cancelled.

Also, not contained in the media report. Swiss adult adoptions are not as easy as American adult adoptions.

The requirements

1. They lived with you for at least a year when they were still a minor;
2. they are in need of constant care and lived with and were cared for by you for at least a year (even if they were already of age during this time), or
3. there are other important reasons for the adoption and the person you wish to adopt has lived with you for at least a year.

Sure, Hermes boss could bribe authorities or tell some concocted overwhelming story to waive requirements 1 and 2, but I highly doubt he plucked his gardener from somewhere as a minor and let him live with him for a year.
Become a father in the Swiss context, not present in the article, basically means fertilization or raising up a minor.

The other factor is that the 50% is not part of the contract, but rather a statuatory requirement since Switzerland is a civil law jurisdiction, not common law like the U.S.

 

[Torn Mind]

No, no, I'm sure Torn Mind has a full and complete grasp of European inheritance law that greatly exceeds that available to a simple old money billionaire's legal staff.

The billionaire better be ready to bribe, because it is spelled out in statute that the one to be adopted had to have live with the guy as a MINOR.
Or two,
"they are in need of constant care and lived with and were cared for by you for at least a year (even if they were already of age during this time)"

Adoption

In Switzerland you can adopt a child as either a couple or a single parent. The adoption process can take several years. The welfare of the child is always paramount.

www.ch.ch

Then moving over to testimonials from reddit, the process is also expensive. Maybe not a big deal for a billionaire, but it means he really wants to not give that foundation the money.
Which sounds like someone disabled or whatever is considered an "adult child". Maybe he had a massive car accident with concussion brain damage....

 

[nakedfrog]

I've already conceded that there's no plausible way this old money billionaire's legal team is any match for you, no need to impress me further with your dazzling skills! My loins are adequately soddened at this majestic display of jurisprudence I've seen before me.

 

[WilliamM2]

Seems like you've never had any experience, even non-professional with regards to inheritance. Bitch, my dad died and left a will trying to even grant custody of me to my half-sister. Only thing is, that stuff isn't cover by wills, but statute, so I was shuttled of to my mother.

Or, we battle it out with SAT reading comprehension scores. Maybe you got 700 or higher.

Have you ever even had a job? Why don't we try that.

You just google crap, and think you know it all.

 

[Torn Mind]

Have you ever even had a job? Why don't we try that.

You just google crap, and think you know it all.

I've spent more time on Westlaw than you ever will.

Having a job or not is irrelevant to whether you know what you are talking about. You are ignorant, and want to tyrannize and abuse me with it.

I present the facts, YOU INSULT. That's all you've got. What does having a job or not have to do with the subject matter? Can you explain, or is it something about Torn Mind the person that makes facts irrelevant.

Googling a official government website is not crap. It's exactly the source of the law. You to make me look stupid, you don't make dumb insults.

It's clear that the Swiss do not have a favorable adoption environment. This is unlike the U.S, where both parties consenting is all that it takes for an adult adoption to get approved.

Did you ever question? Was it a contractual term in the contract, or is it referring to Swiss statute, where it would be mandatory to give children a part of the estate unless another agreement explicitly says other wise. The article provides no clarity in that regard.

 

[Torn Mind]

Yeah, William keep talking. I've been spend plenty of time doing mental work. You never did this, but you act like you do.

 

[Torn Mind]

I've already conceded that there's no plausible way this old money billionaire's legal team is any match for you, no need to impress me further with your dazzling skills! My loins are adequately soddened at this majestic display of jurisprudence I've seen before me.

The reply is a presentation of the legal authority itself. It's clear the contents are not believe by you and thus there is no credibility to an official government website.
As such, you believe:
The gardener lived with him as a minor.
The gardener needs "constant care".

All on the basis that Torn Mind isn't a guy you like.
Rational

 

[WilliamM2]

I've spent more time on Westlaw than you ever will.

Having a job or not is irrelevant to whether you know what you are talking about. You are ignorant, and want to tyrannize and abuse me with it.

I present the facts, YOU INSULT. That's all you've got.

You guess at the facts. You have not read the contract, none of us has. As far as insults, I'm pretty sure you called me a "bitch"?

So you never even had a job, but I am to believe you are one of the smartest people alive.

 

[nakedfrog]

The reply is a presentation of the legal authority itself. It's clear the contents are not believe by you and thus there is no credibility to an official government website.
As such, you believe:
The gardener lived with him as a minor.
The gardener needs "constant care".

All on the basis that Torn Mind isn't a guy you like.
Rational

I don't dislike you, I just find it highly amusing that you now consider yourself The World's Pre-Eminent Legal Authority™
I haven't read the ins and outs of the case because I've no fucks to give.

 

[WilliamM2]

Yeah, William keep talking. I've been spend plenty of time doing mental work. You never did this, but you act like you do.

More internet lawyer BS, I never claimed to have studied any law. Or act like I have. I'll let HIS layers do that. I'm sure they have read that contract.

I don't try to live by gaming the system.

 

[sdifox]

So strange, why can't the old man change his mind? Especially when he was the one that established the foundation in the first place.

People change their will all the time.