Famous Trust Funds
How much do you love your pet? Famous trust funds have a way of catching the media’s attention, and some of these trust funds are certainly much stranger than fiction.
Some people leave trust funds to animals, and some types of trust funds are truly bizarre, but famous trust funds tend to come in a variety of ways. Of course, there are those people within the world that are famous for having substantial trust funds, but the type of trust funds that really grab the public’s attention are usually the peculiar kind.
A well known hotel owner by the name of Leona Helmsley was once the topic of much conversation when she left her dog “Trouble” $12 million dollars that was set up in the form of a trust fund. The same woman also left her limousine driver $100,000, but she left her two grandchildren absolutely nothing – talk about a famous trust fund! Interestingly, one of the most talked about trust funds is the one that once belonged to current President George W. Bush.
Though those within the political world know all about Bush’s trust fund beginnings, many people have never heard the story of this trust fund baby. During the year 1978, George Bush extracted $17,000 from his education trust fund in order to begin an oil business called “Arbusto Energy.” Unfortunately, his small venture did not do so well, and the company was purchased by Spectrum 7 Energy Corporation, which named Bush their Chief Executive Officer. Bush’s trust fund certainly makes the cut for some of the most famous trust funds in the world.
Trust funds can be a peculiar thing, and if you decide to set up a trust fund, you can literally leave your assets to anyone, or anything, that you please. While a dog may not have much use for a large trust fund, a child similar to the current President of the United States may turn a trust fund into a valuable lesson. There is no telling what a beneficiary may do with the trust fund that you set up, but if you do choose to create a trust fund, you will have the satisfaction of knowing that you tried to accommodate those you care about.
Whether or not your trust fund will join the two famous trust funds mentioned above has yet to be seen, but leave your trust fund to a beloved pet and it just may become a highly debated topic. Either way, trust funds are certainly a unique way to leave a bit of your assets to those that you love, and if you create a living trust fund, you may even be able to see where all your hard work ends up once the fund is cashed.