Lumber Tycoon Delays Payment of His Fortune to Great Great Grandchildren

Jun 1, 2011 - LegalZoom News Sources
Wellington R. Burt, a king of the lumber trade who died 92 years ago, had delayed the majority of his estate payout until recently.

A last will and testament often acts as a final gift to loved ones of the deceased. Gifts and estates are allocated to individual family members or friends as a final goodbye. 

Wellington R. Burt, a king of the lumber trade who died 92 years ago, had delayed the majority of his estate payout until recently. In a move that shunned his direct descendents, the former tycoon left explicit instructions for his will that froze his estate money until 21 years after the death of the last grandchild born in his lifetime, according to the Daily Mail.

He punished his family for attempting to cross him, friends at the time speculated, and decided to leave the bulk of his fortune to relatives that were not born yet. The immediate family members received a stipend that amounted to the payments for the family cook at the time of his death due to their selfish actions, the news source reported.

Unlike his immediate heirs, the great great grandchildren of the lumber magnate are set to receive between $2.6 and $2.9 million each, CBS news reported.

"I'm pretty sure he didn't like his family back then," recipient Christina Cameron said.