There is a wonderful recent story about a Minnesota family that has baptized 27 babies over three generations with a baptismal gown made from the World War II parachute that saved grandpa’s life!
I’m always coming up with analogies for trusts and often use a vehicle analogy such as my Jeep Gladiator for maximum traction and transmission of power.
But the analogy of your trust to a parachute is an apt one, depending how it’s drafted.
Some clients merely want to provide a safety net, and I applaud them for doing at least that.
But your trust can provide more control than that, much like a parachute that can be to some extent steered by the jumper to avoid obstacles and time landing.
Also, the term safety net implies usage as a last resort, and so can a parachute, but use of a parachute can also be part of a planned operation to save life, perhaps even baptize 27 babies or achieve other values transmission through incentive provisions.
The term “golden parachute” in the corporate world has a strictly financial meaning, but applied to your trust it can be much more: Life, Fortune and Honor.
