Chapter 21 - JOSEPHINE’S TRUST
Josephine turned seven before I explained that she had a trust.
Not millions.
Not control.
“Some money Grandpa Elias put away a long time ago can help with school and things you need.”
“Grandpa Robert?”
“No. Someone older.”
“How old?”
“Very.”
“Dead?”
“Yes.”
Children.
She accepted.
The independent trustee approved:
School costs.
Summer art program.
Medical expenses not fully insured.
No luxury just because money existed.
I paid ordinary household expenses.
Could the trust pay more?
Yes.
Did it need to?
No.
At thirteen, Josephine received formal financial education.
Not family propaganda.
Independent adviser.
What is a trust?
What is a share?
What is tax?
What is conflict of interest?
What does fiduciary mean?
She hated every session.
Excellent.
Money became boring.
At sixteen, she asked:
“Can the trust buy me a car?”
“Ask trustee.”
“They said reasonable used car.”
“Sounds reasonable.”
“I want the electric SUV.”
“Then save.”
She accused me of oppression.
May you like
Normal adolescence.
I celebrated privately.
