Tuesday, January 31, 2006
The benefits of creating inventive trusts discussed in Catherine M. Allchin, In Some Trusts, the Heirs Must Work for the Money, NY Times, Jan. 29, 2006.
The articles explains that to receive benefits, beneficiaries "must reach milestones or take actions. For example, children might receive a $25,000 bonus when they graduate from college or marry. Or they might receive funds matching money they earn."
The article also explains that "[c]ritics, however, call incentive trusts too inflexible and say that some parents can be too controlling."
Special thanks to Prof. Joel C. Dobris of the University of California -- Davis for bringing this article to my attention.