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Money put in trusts for heirs is another way to shield assets.
"It's a problem with people who tie their money up in trusts for long periods of time," he said.
Hunt put a good portion of his assets in trusts for the families of his two marriages.
The $15 million or so he had sheltered in trusts for his children no longer went so far.
Benson was declared competent in court, but there was more legal wrangling over nonvoting shares of the teams that were held in trusts for the LeBlancs.
Mr. Gottlieb declined to say how much cash he had invested, but he said he had taken out only a small amount of money from his investments with Mr. Madoff, which were held in trusts for his sons.
Similar(40)
Federal law also allows for Indian casinos situated away from reservations, on land held "in trust" for the tribe.
And atop the maddening income tax inequities lies a regressive payroll tax -- nominally "in trust" for Social Security.
The pirate Luis Aury claimed the island for Mexico that same year, but it was soon taken over by the United States and held "in trust" for Spain.
Back in 1855, James Cunningham of 233 Mulberry Street had opened account number 8691 "in trust for John Haffey".
Left £40 in trust for his grandchildren Philip, Mary, and Elizabeth LUSCOMBE.
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