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Alternatively, we utilize the privacy laws of trust-friendly jurisdictions, such as South Dakota or Delaware, and incorporate silent trust provisions in the trust document so the children aren’t even aware—and have no right to be aware—of the existence of family trusts, trust investments or their beneficiary status.” In certain situations, the wealth planning becomes more specialized. If you have a family business and over-privileged children, for example, you have may have concerns about succession. Discussions of family wealth equalization can be difficult. Families should think through the various approaches and become comfortable with the probable outcomes.
