Rich young techies aren't so concerned with conserving their millions as family legacies, Reuters suggests. Future kids and grandkids will be well provided for, no doubt. Meantime the young rich are willing and eager to set something aside for philanthropy. Through donor-advised funds, for example.
Fewer millions for younger branches of the family tree isn't necessarily a bad thing. The continuing Disney family feud, summarized here a few years ago and now here, suggests that leaving grandkids $1 million a year can be counterproductive. They or their relatives get hungrier and hungrier to devour the goose that lays those golden eggs.
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3 comments:
Having a corporate trustee didn't resolve the problems either, did it?
Having a corporate trustee helped for a while. Giving beneficiaries the right to change to another trustee, allowing them to shop for a trust company hungry enough to be compliant, did not help.
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