Hiking

As they walk along on their hike Anoush says, “I have a question for you?”

“What is your question?”

“Since I’ve come into a great deal of money I would like to do something for Kamil’s parents and also for my own parents.  I have been thinking of sending them a sum of money but I don’t want to place either of them in any jeopardy.  Nor do I want anything to come back to me.”

“How much money do you want to send them?”

“I am thinking of a large sum equal to one hundred thousand dollars each.”

“Most countries are tied into systems to monitor large cash transactions.  That amount would be a red flag.  How old are your parents and Kamil’s?”

“Mine are close to sixty and his are likely to be around the same age.”

“Do you know what trusts are?”

“Yes, and there are different kinds.”

“Let me suggest you set up a non-reconcilable trust and have the money transferred into a separate bank account in Switzerland.  You can even use a different bank.  Let the trust send them small amounts of money anonymously every year for twenty years.  By using a different bank there is no ties to your account.  The bank will disburse the money according to the instructions of the trust.  At the end of twenty years they can divide any amounts left in the account.”

“That is an excellent idea.”