Chapter 1974 (2/2)

This is far better than giving future generations a sum of cash.

This suddenly gives people a lot of cash, which is a great temptation for anyone.

People, as long as they have money, usually begin to squander.

This is a very normal situation.

It can even be taken for granted.

In this case, the money you give will soon be wasted.

Not only will his family soon be ruined, but also his heirs may be infected with many bad habits.

These bad habits will eventually destroy him.

Instead, you keep the trust fund.

Then, no matter how future generations fail, he can only lose the annual profits of the trust fund.

Its principal has always been, and because there is a certain income to continue to generate money, the amount of this principal will become larger and larger.

In the end, the money will reach an amazing figure.

And once future generations wake up, they still have the qualification to make a comeback.

Of course, it does not rule out some extreme cases in which future generations squander and owe a large gambling debt, resulting in the trust fund's money being used to repay the debt every year.

However, generally speaking, large families will make a capital distribution on the trust fund. A professional trust fund management committee will be hired to manage the trust funds of a series of heirs of the family.

Usually, it will also be agreed that if the heir is insolvent, the trust fund will only be used for the heir's own living expenses and will not have the function of paying his debts.

This is also to prevent the heirs from acting wantonly, being cheated, owing a lot of gambling debts and so on.

In that way, the heirs keep the trust fund empty, but they are hungry and cold, which is definitely not what the big family wants to see.

After setting such terms, creditors can not forcibly take the annual profit dividend of the trust fund.

It's no use even going to court to complain.

Because the debtor is insolvent. Bankruptcy is the best.

The money of the trust fund, although nominally enjoyed by the debtor. But its owner is not the debtor.

In this case, it is naturally impossible for the creditor to take away the trust fund enjoyed by the debtor.

This is why, under the modern western system, their families can last for hundreds of years and even become more and more prosperous.

This is far better than the complete inheritance system of large families in China.

Originally, cross Picard thought that Daniel Picard had been eating and drinking all his life. Maybe people in the future will wake up when they are middle-aged.

But at that time, he may be gone. He is too lazy to bother about the future. There's a trust fund anyway.

Never thought, Daniel Picard seemed to suddenly open his mind.

This makes cross Picard happy, but also secretly worried.

It is gratifying that Daniel Picard has finally become a talent and is no longer the laughing stock of the family. The worry is whether he will have the idea of competing for family property with his brother.

If so, it will inevitably bring disaster to the wall.

The palm and back of the hand are all meat, which is undoubtedly difficult for cross Picard to choose.

This is also what big families fear most. Two excellent heirs are often not necessarily good.