Supreme Transparency
Parking meters on Sierra Street
Everyone by now is bored with the fact Picon is overly interested in the Murdoch case in Washoe County. But, hey, SORRY we think it is inappropriate for a bunch of rich fat cats to not only use Nevada’s lack of income and inheritance taxes, as well as its confidentiality protections making it a top venue for family trust management, to keep their hearing so very, very private at taxpayer expense.
Did the Murdoch’s choose Reno over Las Vegas to add an additional layer of privacy to the closed-door proceedings? It sure seems like it.
The court documents are sealed, and the hearings are closed to the public, you know, the same public (Nevadans) whose taxpayer dollars are paying for this shindig.
The Second Judicial District Court has rolled out the red carpet for the Murdoch family with special entry and exit to the courthouse and bagging the meters, so their cars are always ready to whisk them away. We hear Old World Coffee on California Avenue was a favorite spot to sip while waiting.
Picon remembers the last time we were called for jury duty, and we didn’t get a special spot held for us. Oh, but wait we’re only a taxpayer and voter who lives in Nevada.
Now we know we’ll be hit with the Washoe County Sheriff telling us the Murdoch’s needed extra security. No, they didn’t, due to the attempt to kidnap Rupert Murdoch’s second wife, Anna, in 1969 Rupert has paid for the best security money can buy from that day forward.
The New York Times Company, Cable News Network, Inc, The Associated Press, National Public Radio, Inc., WP Company LLC, Reuters News & Media Inc., and American Broadcasting Companies Inc. finally woke up and decided to challenge the closed Washoe County proceedings.
Our Nevada Supreme Court kept the hearing closed to the media.
Another interesting tidbit, Nevada allows irrevocable trusts to be decanted.
Here are some reasons why a trust might be decanted:
To correct errors
Decanting can be used to fix drafting errors or ambiguities in the original trust document.
To better reflect intentions
Decanting can help ensure that the trust reflects the grantor's intentions.
To extend the trust term
Decanting can allow for multiple generations to receive protection from creditors, divorce, and bankruptcy.
To make administrative changes
Decanting can be used to change the number of trustees, their powers, or to consolidate trusts.