Mark was terrible with wealth and his best endeavor with money had been in spending it. He had a successful career and good earnings, but also struggled with an addiction throughout his life. Mark had never accumulated much wealth, but he was set to inherit millions.
Mark’s father was a Silvia McColl client and had shared his son’s story with us. Silvia McColl recommended establishing an irrevocable trust and a private fiduciary to manage Mark’s inheritance by the written instructions left by his father. Our client has now passed on and while Mark’s sister inherited her money without restrictions, Mark’s wealth is managed by Silvia McColl and distributed to Mark via a private fiduciary.
Mark’s success came from his father’s realization that he was not up to the job of managing wealth. Mark acknowledged his shortcoming and confesses “I’m not great with money.” His father’s love and wealth legacy for his son lives on.