The filmmakers have declined to reveal the amount in the trust fund, fearing the families would be exposed to exploitation.
The reason, he said, is that the amount in the trust will be spent down, as opposed to a third-party trust where the recipient is just drawing the interest.
But bank fees, which are based on the amount in the trust, increase.. Small local grant recipients that have historically received money are either dropped in favor of larger charities or receive money far more sporadically.
The survivor has access to trust income and, if needed, principal, but the amount in the trust bypasses his or her estate.
If you must have a cat trust, don't fund for all nine lives in most states a court can reduce the amount in the trust if it's excessive.
Nonetheless, when Ghaleb turned over the proceeds of the shares to NCB, the amount placed into the trust account reflected the value of the shares in 1993, not any distributions that may have been made to Ghaleb with respect to those shares in the intervening years or any increase in share value.
"They're sitting there saying, 'I want my life simpler.' " The best candidates for these trusts are people who give annually to charity and have an income large enough to take advantage of the charitable tax deduction for the entire amount put into the trust.
That is, it should not be a single-beneficiary trust where the trustee is required to take at least the required minimum distribution (RMD) from an IRA each year and then pass that amount out to the trust beneficiary.
