What is a family trust fund? Family trust fund means that the wealth of the whole family is not passed on to a child, and it is set up as a fund, called family trust fund. Give it to a special fund company management company to sign an agreement for management, and a special lawyer to draft documents for management. This fund has a clear heir, but his heir can only enjoy the dividend income before the age of 30, and can't use the principal. What do you mean? For example, the family fund has a billion dollars, and the heirs can only use the profits to pay dividends every year. For example, this billion dollars can earn 50% dividends every year. The heirs of this family can enjoy this 50% bonus. He can take it out if necessary, but he can't use the principal.
Didn't you spend your whole life on the principal? No. When can I use the principal? You see, this is wisdom. You can't use the principal of the trust fund before you are thirty. But it doesn't mean that the heir is 30 years old, and he wants to open a casino, and then he will take out the money to open a casino. No, this money must be approved by the trust management Committee, which includes the opinions of clan leaders, lawyers and fund management companies. For example, if you do the right thing and do something meaningful, you can use the principal. If the family management foundation doesn't agree, you can't move.
Rockefeller Jr. stipulated that the inheritance of family companies and family industries must be carried out by competent people, not by incompetent people. This ensures that every generation of Rockefeller family has talents.