Wellington R. Burt (d. 1919) amassed a vast fortune during his lifetime, but he didn't want it to spoil his children or grandchildren. They needed to make it on their own in the world, so he bequeathed to them comparatively small stipends and ordered that the rest of his fortune -- now measured at $100 million -- be distributed to members of his family only 21 years after the death of his last grandchild. That time has finally arrived:
Link | Photo: Saginaw News/AP
Now that it's 21 years since the death of the last grandchild, the fortune is finally being turned over to Cameron and 11 others, including three great-grandchildren, seven great-great grandchildren and another great-great-great grandchild. The fortune is valued at more than $100 million. (She'll get a little more than $2.6 million, since those further up the family tree get more under a master agreement).
Link | Photo: Saginaw News/AP
Comments (5)
These trusts aren't that uncommon. I know that my great-grandfather did one just like this.
Look at all the MerLOW!
chamBang!
ZinDownFall
NSFC (not safe for children) would be much better in most situations.
Really. Had it been me there EVERY kid in a 5-block radius around that store would have heard me swearing like a drunken sailor arguing with a drunken trucker, mainly because I'd be unhappy about having to clean up such a huge mess!
1) the store cheaped out and either went with compromised used fixtures, or did not use the proper weight rated fixtures
2) the fixture was rated for the correct weight, but was improperly assembled.
3) the fixture was not properly leveled. This takes a little extra effort, but is worth it
4) even if the fixtures were correct and properly installed and levelled, if the other side was completely empty this could happen. Not as likely, but possible.
I'm probably over-thinking it.