Leona Helmsley infamously left $12 million in trust to her dog while completely cutting out two of her four grandchildren from her fortune. The two grandchildren who received bequests could only receive their payouts if they visited their father’s grave at least once a year, which they had to prove by signing a register kept at the Helmsley Mausoleum. This was Leona’s way of “encouraging” her grandchildren to do something that they might not want to do otherwise – by tying it to their inheritance.…
Continue Reading Incentive Trusts Can Be Used to Provide Guidance to Your Trustee and Incentivize Beneficiaries