https://www.wsj.com/personal-finance/inside-the-trust-reveal-where-the-superrich-pass-on-generational-wealth-21ba3607
Inside the ‘Trust Reveal,’ Where the Superrich Pass on Generational Wealth
Wealthy families and their cadre of advisers meticulously coordinate plans to make their money last for the next century and beyond
*Surprise! You have a $100 million trust fund. *
That is the message at “trust reveal” meetings hosted by wealthy families and advisers around the country. These days, business is booming.
Of course as the rich get richer there is a lot to disburse.
Baby boomers, who accumulated unprecedented wealth during decades of economic expansion and stock-market gains, are now passing this money down. More than $100 trillion will move from older generations to offspring and charities through 2048, according to Cerulli Associates. Around $62 trillion will stem from high-net-worth individuals, who make up around 2% of all households.
Wealth is really concentrated it appears.
Trusts can also grant control to the wealthy. Families can require beneficiaries to stay sober, or employed, to benefit. Trust documents can specifically require children or grandchildren to take drug tests for cocaine or other substances before withdrawing cash.
LOL controlled from the grave.
One popular structure for the ultrawealthy: the dynasty trust.
It is designed to transfer wealth across several generations—potentially forever—while avoiding estate and generation-skipping transfer taxes at each handoff.
One reason families start to disclose wealth to children is they suspect one of them might be on track to get married. Trusts can keep generational wealth within bloodlines.
Very much like the royalty of old.