Monday, May 04, 2009

Three Well-Funded Trusts . . . and Love

An 82-year-old Washington, D. C. widower with 10 children and 47 grandchildren and great grandchildren has won a Powerball cash payout of $79.6 million. To receive the cash he has set up a corporation and three trusts: one for education of the younger generations, another to provide family health care and the third to make gifts to charities.
[David Wilmot, the winner's lawyer] said often when families suddenly come into large sums of money that "it's intense and acrimonious. In this case . . . All I have seen at this point is love."

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