That's because once assets are in a Discretionary Spendthrift Trust a trustee will control them and you and your children will no longer have any control over those assets.
BaFin appointed a trustee to control E-Clear's voting rights.
If the court decides on reorganization rather than liquidation, it appoints a trustee to control the firm and to prepare a formal plan of reorganization.
Separately, the judge presiding over Enron's bankruptcy case turned back a request from creditors to put a trustee in control of the company's finances.
In 1984, in the first such action in the nation, Judge Ackerman ruled that Teamsters Local 560 had been dominated by organized crime for a quarter-century and placed it under a trustee's control.
Some creditors of Tropicana Entertainment, which has filed for bankruptcy, asked for it to be placed under a court-appointed trustee's control, saying the company's chief executive, William Yung, had come close to destroying the casino operator's prospects, according to court filings.
He added, "Until the board of trustees takes control and prevents these few select officers from continuing on this path, the fragile financial and artistic structure of A.B.T. will continue to be terribly undermined".
The exultation was as pungent as the aroma from the chocolate factory on Cocoa Avenue today as residents and workers in this ultimate company town saw the trustees who control Hershey Foods suddenly retreat from their plan to sell the company, the nation's largest candy maker.
After the Child Friendly Schools (CFS) project of Vanuatu Education and UNICEF supplied the station with two transmitters, the local board of trustees took control of the administration, programming, and direction of the station.
The board of trustees, which controls the president's fate, has so far stood behind him.
