"Big Love" and Irrevocable Trusts
I blogged about the HBO series "Big Love" and estate planning last year, here. The show -- about polygamists -- is back for a second season, and it's really reaching a creative peak. I don't know of too many television programs that can deftly blend drama and comedy like it does.
On this week's episode, the mother of Margene (aka Wife #3) pays a visit. During the course of the episode, Margene's mother learns that her daughter is a polygamist, and Margene's husband Bill tries to address her concerns. Are Margene -- who obviously doesn't have rights as Bill's spouse under the law -- and her sons protected if something happens to Bill? The answer is "yes," as Bill indicates that he has set up irrevocable trusts for Margene and the boys, and makes gifts to the trusts each month. (That's sort of a pain since, as I discussed here, each beneficiary would need to receive notice whenever a contribution is made to the trust.) I wonder who is acting as trustee?
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