Friday, January 29, 2016

In which the assault continues against Ted'sSon's trust for amounts beyond what the trust contains

Ted'sWife sent a tally - a spreadsheet - of Ted'sSon's school expenses, noting amounts that Sly and Doris paid and amounts that Ted'sMother paid over the past ten years.

Private school is not cheap. Ted'sWife suggests, in her spreadsheet, that she and Ted would welcome a reimbursement of $156K.

Wouldn't. We. All?

I would love to be reimbursed for anything.

However.

As Sam, Primo's best friend and also a lawyer, and as Sly's lawyer have advised, the purpose of the trust is not to reimburse for past expenses.

The exception is would be helping the grandkids pay their student loans, as giving them money now reduces their current expenses.

Primo wrote to Sly's lawyer,

As (I think) you and I have discussed, I do plan to make some of the trust assets available to repay student loans for my nephew Michael and niece Maria, but those are actual debts that they owe and such payments would directly benefit them, not their parents. In this case, Ted and Ted'sWife simply want reimbursement for educational expenses that they have paid in the past. I might view this differently if they had taken out loans and had bills to pay for those expenses, but I think they are just trying to get their hands on the money. 

Primo (and I, although my opinion on this is not relevant, as I am neither a trustee nor a lawyer - however, I am an English major and am pretty good at reading between the lines to discern why someone is really doing what he is doing - that is all English majors do is read lines and figure out what is going on behind them - and the lines that Ted is giving are clearly revealing that all he wants to do is to get his hands on that cash) would be more inclined to consider Ted's request if Ted were funding something current for his son and if Ted has not already shown himself to be such a greedy pig.

Have any of you told anyone the story about Ted wanting to be reimbursed more than twice the ticket price for his frequent flier miles TO ATTEND HIS OWN FATHER'S funeral?

I have yet to find someone who is not completely appalled by that.

10 comments:

  1. Catherine from CanadaFriday, January 29, 2016

    I really hope that Primo can stay calm, do what's right and see all this for its entertainment value, "what will Ted do next?!" and not get too caught up in the attempted emotional blackmail that's going on here.

    Because this is just all so outrageous that you have to see it as funny.

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  2. I'm pretty sure I've related that story, ESPECIALLY the overvaluation of FF miles. Usually the response is what you'd expect - appalled, followed by some sort of exclamation of how stupid that is.

    We should refer to Ted as TFG (This "effin" Guy).

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  4. I may have missed something here - is TS no longer in school?

    If so, it becomes even easier to say "Sly already contributed towards that. The purpose of the fund is not to cover the rest, but to cover future expenses that may be incurred for/by TS. This is both my understanding and the legal advice of 2 separate lawyers."

    - AC

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  5. Given that Ted's son is disabled, one would think that his parents would keep that money in trust for when they are no longer able to care for him. I hope that's what I would do...

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  6. My worry is that Ted and wife are setting son up for a very tough future. Without knowing what the disability is it's hard to know what son may need in the future. (Unless his life expectancy is very short) the goal should be to insure his care for after the parents are gone. I hope that there is some way to make this trust permanent (not final payout at 30) for the son so there will be future funds for as long as possible and not affect any government benefits he may need. (and of course keep Ted and wife from getting whatever is left when son is 30)

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  7. They are terrible people. End of story.

    -TMA

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  8. Hello GD,

    I was initially and remain quite appalled.
    My stomach is SICK.....for shame.

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