Many large law firms may have jettisoned their trusts and estates capabilities in recent decades. But the involvement of several elite law firms in the pending divorce of Bill and Melinda Gates demonstrates the renewed value of being able to cater to the needs of high-net-worth individuals, especially as the total wealth of corporate CEOs and tech founders mushrooms over time.
Even if the practice isn’t a revenue driver on its own, firms that have let go of this work may have some regrets, in a moment where so much wealth is concentrated at the tip of the pyramid.
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