by | Feb 7, 2019 | Blog, Business, Business Advisory, Family Offices, Trust
Nearly every trust has a trustee and that trustee gets paid a fee for services from the trust. The most common range for such a fee is .5% to 1% or more of the trust’s asset value. So, if a trust has $1,000,000 in assets, the trustee fee would typically be $5,000 to...
by | Nov 14, 2017 | Blog, Business, Trust
Why does Milton S. Hershey specify that the boards of his charitable entities be the same as the board of their common trustee, Hershey Trust Company? Well, in 1909, Mr. Hershey created the Milton Hershey School in Hershey, Pennsylvania. He stipulated that the Hershey...
by | Nov 11, 2017 | Blog, Board Governance, Business, Business Advisory, Family Offices, Trust
The second charitable trust Milton Hershey created was the M. S. Hershey Foundation. He created this trust through an Agreement of Trust in 1935. As usual, he named the Hershey Trust Company as the trustee. Its purpose was, and still is, to provide educational and...
by | Nov 10, 2017 | Blog, Business, Business Advisory, Family Offices, Trust
Mr. Hershey’s third charitable trust was created in 1945, upon his death. His will simply left the residue of his estate in trust for the benefit of the Derry Township (Hershey) Public School District. And as usual, he named the Hershey Trust Company as the trustee...
by | Oct 13, 2017 | Blog, Board Governance, Business, Business Advisory
Let’s start with the Hershey Trust Company, a Pennsylvania bank created in 1905, wholly owned by Milton S. Hershey. In 1909, Mr. Hershey created his Deed of Trust. In it, among other things, he put all of his business assets into trust and made the Hershey Trust...