I am trying to [-]get all Mom's loot [/-] gain control of a family trust so that my return will increase. I have yet to find [-]a shyster to screw the Trust[/-] an attorney to represent my interests, so I am proceeding as best as I can.
I was told by one attorney that in cases like this, one step is to negotiate with the remainder beneficary a lump sum pay-out. I have no idea how this is done. I am not afraid to [-]put my foot in my mouth[/-] write a proposal letter to him, but I am not sure how the lump sum is calculated. So if you wish, help me in an actuarial exercise.
The assets of the trust are about $680,000. I am likely to live about 40 more years. Obviously it is in my interest to minimize the amount that I would pay the remainder man. Therefore, I would like to assume that I receive both income and principal during my life. I guess I would plan to live to 100 therefore, and piss away the money. (If only the Trustee would agree with that reasoning!) In any case, I have no idea what to offer the remainder man.
I was told by one attorney that in cases like this, one step is to negotiate with the remainder beneficary a lump sum pay-out. I have no idea how this is done. I am not afraid to [-]put my foot in my mouth[/-] write a proposal letter to him, but I am not sure how the lump sum is calculated. So if you wish, help me in an actuarial exercise.
The assets of the trust are about $680,000. I am likely to live about 40 more years. Obviously it is in my interest to minimize the amount that I would pay the remainder man. Therefore, I would like to assume that I receive both income and principal during my life. I guess I would plan to live to 100 therefore, and piss away the money. (If only the Trustee would agree with that reasoning!) In any case, I have no idea what to offer the remainder man.