° August Dear 5, 1959 Joe? I T was clad get have your in of of August end. considerable siven I agrees of your letter. gifts of Browning Arns reasons same the for grandchildren your to stock that you have stated Young University is, letter already subject matter proposition of thought to the to the general Company to and it studied have A gift to Brigham your letter. entirely up to you course, and I see no and Carrie,but if it can be accomplished, beneficial the of gift the make would I not, why reason you decide such if University, Young Brigham to interest to of one the family, Many people such to as of rights voting the reserve but doing, upon Neil Welling, the country, stock the for example, throughout some and in our own family, have gone even farther than making tax free gifts to reduce State and Inheritance Tax I, for example, have given more than my liability. tax free allotment to my children and paid the gift tax, which is considerably less than the inheritance tax would Louie be. has Each ase, however, -randchildren than yearly $6,000.00 Eleanore. and Hugh with same the done is special, and since you have you do children, by giving the limit to accomplishing are you each, more the same result over a comparatively short period of In making gifts to years without paying any gift tax. it is often considered wise to set up minor children, or one trust for several a trust for each child, In that and make the gifts to the trusts. children, to have an income but not the trusts, for the child way you can arrange from the gifts which are put into itself or trust until they become of an considered an age of judgment age and have actually the stock people say 25 years, others 30. however, already considered this beginning to set up such a trust children (of which I already of corpus the which might maturity <= You have doubtless, I am possibility. for all of my grand= have eight), being prepared now by attorneys in the Trust Department of the bank. which conjunction I expect to the trust for the benefit of each one $6,000.00 as long it is possible for me to so, as the be some do thus is with pay into annually