{"id":867967,"date":"2026-08-25T14:52:09","date_gmt":"2026-08-25T14:52:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/867967\/"},"modified":"2026-08-25T14:52:09","modified_gmt":"2026-08-25T14:52:09","slug":"celebrity-estates-the-murdoch-trust-and-irrevocable-trusts","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/867967\/","title":{"rendered":"Celebrity Estates: The Murdoch Trust and Irrevocable Trusts"},"content":{"rendered":"<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">What should planners consider when an irrevocable trust no longer fits the family it was designed to serve?<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">For estate planning professionals advising families with closely held businesses, that question can become especially difficult when beneficiaries have different roles, financial interests and ideas about the company\u2019s future.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">In this episode of Celebrity Estates, Senior Editor David Lenok speaks with Mark Parthemer, chief wealth strategist at Glenmede Trust Company, about the Murdoch family trust dispute and what it can teach advisors and families about irrevocable trust planning.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Using the fight over control of Rupert Murdoch\u2019s media companies as a starting point, Mark explains why an irrevocable trust may sometimes be modified, why changing personal preferences usually isn\u2019t enough, and how combining equal economic interests with equal voting rights can create problems when only some family members are involved in the business.<\/p>\n<p data-component=\"related-article\" class=\"RelatedArticle\">Related:<a class=\"RelatedArticle-RelatedContent\" href=\"https:\/\/www.wealthmanagement.com\/estate-planning\/celebrity-estates-taylor-swift-travis-kelce-and-prenuptial-agreements\" target=\"_self\" data-discover=\"true\" rel=\"nofollow noopener\">Celebrity Estates: Taylor Swift, Travis Kelce and Prenuptial Agreements<\/a><\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">David and Mark also examine the difference between family governance and legal control, ways trust protectors and decanting provisions can provide flexibility, and why estate plans can become outdated as families change. Their conversation also covers privacy, revocable trusts and the importance of thinking carefully about how a trust should respond to circumstances that may look very different decades into the future.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Mark discusses:<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Why irrevocable trusts can sometimes be modified, but changing personal preferences usually isn\u2019t enough<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">How equal economic value and equal control can create conflict when only one child works in the family business<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Why family governance can guide relationships, while the written trust terms still determine legal control<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">How trust protectors, decanting powers and other mechanisms can create room for future family changes<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Why privacy can be a planning goal, and when a revocable trust may address it without extra complexity<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Resources:<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Connect With David Lenok:<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Connect With Mark Parthemer:<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">About Our Guest:<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Mark Parthemer is Glenmede Trust Company\u2019s National Chief Wealth Strategist. He is responsible for developing and communicating Glenmede\u2019s position and strategy concerning tax, estate planning, and fiduciary matters pertinent to clients and their advisors.<\/p>\n<p data-component=\"related-article\" class=\"RelatedArticle\">Related:<a class=\"RelatedArticle-RelatedContent\" href=\"https:\/\/www.wealthmanagement.com\/estate-planning\/celebrity-estates-heath-ledger-s-estate-plan-and-the-conversations-families-avoid\" target=\"_self\" data-discover=\"true\" rel=\"nofollow noopener\">Celebrity Estates: Heath Ledger\u2019s Estate Plan and the Conversations Families Avoid<\/a><\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Prior to joining Glenmede, Mr. Parthemer served as managing director for TIAA and managing director and senior fiduciary counsel for Bessemer Trust, working with ultra-high-net-worth clients to deliver sophisticated tax and estate planning advice and provide tailored guidance. His previous roles include law partner at Duane Morris, LLP, and senior tax professional at PricewaterhouseCoopers.<\/p>\n<p class=\"ContentParagraph ContentParagraph_align_left\" data-testid=\"content-paragraph\">Mr. Parthemer is on the board of directors of the Florida Bankers Association and immediate past president of its Trust and Wealth Management Division. He is also group vice chair for the American Bar Association, RPTE Trusts and Estate Practice Group.<\/p>\n","protected":false},"excerpt":{"rendered":"What should planners consider when an irrevocable trust no longer fits the family it was designed to serve?&hellip;\n","protected":false},"author":2,"featured_media":867968,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,184,185],"class_list":["post-867967","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-au","tag-australia","tag-business","tag-finance","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/867967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=867967"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/867967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/867968"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=867967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=867967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=867967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}