Not Your Typical Incentive Trust: The ROTE and FST, Part 2

Gallo, Jon J.; Gallo, Eileen; Grubman, James
April 2011
Journal of Financial Planning;Apr2011, Vol. 24 Issue 4, p36
Academic Journal
The article offers some tips on the conversion of the Results-Oriented Trust Environment (ROTE) to a Financial Skills Trust (FST) in the U.S. It highlights the main components to classify a FST as a ROTE based including using largely discretionary trust, releasing a statement of the trust's purpose, and delineating guidelines. It explores the financial skills fundamental to money management including the ability to manage and understand debt and credit concepts, the capacity to maintain reasonable accounting, and the ability to earn extra income.


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