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But not telling them is no longer an option, as it was for previous generations: most states have laws that require a trustee to tell beneficiaries about the existence and provisions of a trust at age 18.
Since the founding family's stock was held in a trust at a bank, the raider knew the bank trustee would be under terrific pressure to accept such an offer and sell the stock.
For younger clients, Robert W. Tull Jr., a financial planner in Chesapeake, Va., recommended setting up a trust at death, in case of unforeseen hardships that might require money down the road.
At properties that have a "fractionalized ownership" structure — and this includes the Phillips Club, two buildings on West 66th Street in Manhattan, near Lincoln Center — owners actually hold deeds, which they may sell, will, transfer or place in a trust at any time.
Set up a trust at your private bank for your children and grandchildren to draw from.
Similar(55)
Ms. Anderson's is to be paid over 20 years from a charitable trust, at a rate of $5 million per year for 15 years and $10.7 million per year for the last five, for a total of $128.5 million, said Ed Huff, Ms. Anderson's accountant.
There is one trust which was reported to have bought a large portion of the equity stock of a subsidiary trust at $1 a share.
Jim Sutton, a trust officer at Comerica Bank, has been a season-pass holder for four years.
"It's just a trust factor at that point in time".
"I love going there," said Glenn Andersen, a weekender who is a trust officer at J. P. Morgan Chase.
His mother is an assistant vice president and a trust officer at KeyBank there, and his father is a financial manager for the United States Transportation Security Administration.
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