Chapter 9 - EVELYN MERCER
Frank’s mother, Evelyn Mercer, died five years earlier.
She owned farmland outside Tacoma that became valuable industrial property.
Her estate created a descendants’ trust.
Primary branches:
Frank.
His late brother Thomas.
Each child and grandchild had contingent beneficial interests.
Diane had one.
If Diane had living descendants, a separate education-and-support subtrust could be created for them.
Adoption status?
The document used unusual language:
Biological descendants, regardless of subsequent adoption, provided existence is established to the trustee.
That mattered.
Emily qualified by birth.
Not for custody.
Not for parental rights.
For money.
Approximate current value of the descendant allocation tied to Diane’s branch:
$2.7 million.
Professional management.
Not cash for a seven-year-old.
Frank served as family adviser.
What had he told the trustee?
May you like
That Diane had no living descendants.
My stomach dropped.
