08 Jun ROB REINER’S SON SUES TO GET FUNDS FROM TRUST PARENTS ESTABLISHED FOR HIM– IS HE A MEATHEAD?
Rob Reiner’s son, Nick, has sued to obtain funds for his criminal defense for the murder of his parents. While this may sound outlandish on first blush as usually you should not benefit from killing someone under the Slayer Statute of most states, Nick could be successful in this case.
In addition to the family trust the Reiners established which contains the bulk of their estate, the Reiners established smaller trusts for each child in 1993. The trust for Nick gave the trustee the direction to distribute one-half of the funds to him when he turned 30, and the balance was to be distributed to him at age 35. Nick wants all the funds (including those he is supposed to get at 35) for his legal defense and basic support. He is not yet 35, and he received no funds at age 30. Nick was immediately arrested after the stabbing deaths of his parents, and he is presently in jail. He has pled not guilty.
The trustee (who has since resigned) did not make a distribution due to concerns over Nick’s mental competence and ability to handle the funds. The new trustee is Jodi Pais Montgomery, who was the conservator for Brittany Spears.
Nick’s attorney argues he had an absolute right to the distributions from the trust when he became 30 (which was prior to the death of his parents).
As a result, the terms of the trust are paramount. If the trust said distributions were mandatory and trustee had no discretion, then it would seem Nick could prevail (for the portion he should have received when he reached age 30 due to vesting) notwithstanding California’s Slayer Statute whereby someone convicted of killing or someone proven to have killed (Nick could be found not guilty by reason of insanity) would be unable to inherit from the deceased. Nick has not been convicted as he is still awaiting trial for the double homicide. However, the Slayer Statute should prevail when Nick turns 35 (assuming he is convicted) as he would be treated as if he predeceased his parents. His parents were never trustees of the trust. Of course, Nick would not be entitled to any portion of the family trust (which contained the bulk of the Reiner’s estate) if he is convicted of the murder of his parents.
If Nick is entitled to receive trust funds, then he plans to hire a well-known high priced criminal defense lawyer. If not, he will be represented by a public defender. Some have reported Nick’s trust funds was about 1.5 million dollars.
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