Chapter 23 - DANY LEARNS THE TRUST
Dany was twelve when I first explained the family trust in meaningful terms.
“You have money?”
He stared at me.
“Not exactly.”
“You always say that.”
“Because trust assets are not your checking account.”
He sighed.
“Lawyer language.”
“Your great-grandfather and Grandpa Thomas left structures that can help with education and future needs.”
“How much?”
“Enough that you need financial education before numbers.”
“Terrible answer.”
“Correct answer.”
He attended sessions with an independent adviser.
Hated them.
Good.
He learned:
Beneficial interest.
Taxes.
Diversification.
Fiduciary duty.
Consent.
Conflict.
At fourteen he asked:
“Did Grandma Margaret really call me a freeloader?”
“Yes.”
“That’s funny.”
“It wasn’t then.”
“I know.”
He smiled.
“Still kind of funny now.”
May you like
Time had reduced the plate.
Good.
