The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-07-29
MAKING Of WILL
HELD VITAL To
EVERY MAN
Importance of Drawing Up a
Testament and Creating a
Trust Is Shown
By RICHARD HATTON

The making of Wills and the
functioning of trusts in connection
with estates are subjects of Vital
interest to every man, women and
child in the land. They are, how
ever, matters that are often set
aside from day to day, from year
10 year, until, finally, the fatal
moment comes with no preparation
for the proper disposition or hand
Ing Of an estate.
Lawyers, bankers and trust COM
rany officials are constantly point
ing out the Importance Of wills
and trusts, no matter how small
the estate to be left.
Few men ever sign e. more i'm.
portant document than their viii.
Upon It often rests the future well
fare OF those who are left behind
and the real effectiveness or what
is left depends very largely upon
the will through which the estate
is disposed. In making q VIII
there are several suggestions which
are helpful. For instance: Who
shall have the personal property?
Is there an ornament, jewel, or
other article which It IL desired
that some particular person have
as a remembrance? The same
question may be asked in regard
to other personal property or to
cash. Cash is the most appropriate
form OF gift for some people. For
others it might be just the wrong
form, also. an estate might be
embarrassed should there be a
large number OF cash requests.
These things are Of special import
ance in the case of small estates.
Question of Fixed Incomes
Then there is the matter Of fired
incomes which should be covered
in. the will. Who shall receive
them. A man may desire his
wife. his daughter, his son, mis-
aged parent, or some particular
person lacking in experience IN
managing capital, to have an as
slired income with perfect safety
for the capital which must produce
the income. For this purpose
there is no safer way Of making
certain that the income will be
available than by establishing q
trust with some responsible insti.
tuition. It Is the particular bust.
ness Of trust companies to carry
out trust provisions OF wills and
they are fully equipped to assume
responsibility In the matter which
will guarantees these who are - 1
benefit by the will a full and safe
return upon what is left for them
in trust.
In the case Of a widow who may
know little or nothing of the man.
agsment of capital or Of daughter
who may lack experience CT come
under the influence Of husband
who cannot properly manage her
estate, or in the case Of q son who
Is not old enough or of wide
enough experience to wisely handle
his own affairs, or in the case Of
aged and infirm people it il wise
to provide a trust which vii insure
an adequate income for life.
It is possible to create a trust,
also, for some charity or benefac.
ton or to devise such other DISPOSE
ton of an estate as may be desired
and, in all cases, 1t is within the
power Of the testator to guarantee
the carrying out of his wishes to
the best possible advantage Of those
who are left by naming trust com.
L6ny or a bank having a trust de-
partment as executor, guardian or
trustee. These institutions have the
responsibility. the special skill in
managing capital, the integrity and
experience which such a task re-
CURES. The bank or trust company
VIII not fall sick or die or move
away and it may be given discre-
ton in the matter Of investments
%rsfA 60 nh Il a Z
legal investments.
Advantages Of Trusts
In the case Of making a will 1t
wauld be to the advantage Of those
interested 70 consider the following
facts In regard to trusts: They
supply experienced. responsible and
capable management for estates.
They make the money Of the mex
rerienced woman or child as safe
as that Of the experienced business
man. They make the income OF the
widow. the orphan and the aged as
dependable as that Of the seasoned
and active man Of affairs. They
are very adaptable. They may be
made to serve one person, or A
group of persons; one person or a
group of persons while they shall
live, and another person or group
Of persons thereafter.
II it were possible to collect and
tabulate the tremendous losses to
estates that have been left in in
competent hands, IL 1t were possible
TO picture the misery and even want
through which many who have been
left amply sufficient to provide for
their every need have passed be-
cause of mismanagement on their
own part or on the part Of those
trusted with the handling of their
affairs, IL It were possible for the
man who will leave an estate to
understand the thousand and one
schemes already existing for tie
footing of what he leaves to his
widow and children, there would be
few who would fail TO take the
precaution Of creating a trust.
No better advice can be given the
man who is successful today, re-
CARELESS of the measure of his sue.
cess or the amount Of the estate
which he expects to leave, than TO
take the time to consult the officers
of trust company or bank in re-.
gard to the matter Of making a will
and of providing future security for
his family through a properly ex.
ecuted trust.