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KEEPING THE TRUST SECRET FROM THE KIDS

Problem:

Triggering events occur; 120-day letter is mailed and siblings are surprised at their being disinherited; trust has disproportionate allocation of assets or requirements to sell assets to which siblings have an attachment; assets go into trust or to charity; well-to-do children get less than worthless scion.

All resulting in disharmony and potential court disputes.

Solutions:

Transparency with children – full discussions during life as to desires

Taking measures to assure competency against a contest

Detailed communications with the trust as to how decisions were made

Lifetime disproportionate gifting and methods to re-allocate at death