Thursday, January 24, 2013

Johnston.: Saving Ben Franklin’s money

Sent to you by Steve Sherlock via Google Reader:

via Wicked Local Franklin Opinions RSS by James C. Johnston Jr./Local columnist on 1/23/13

Last week good Old Ben Franklin had another birthday. Ben was born right here in Massachusetts some 307 years ago this 17th of January at his father's house on Milk Street in Boston.  Ben was careful when it came to spending his money. Consequently, by the time of his death in 1790, he was reputed to be the richest man in the United States. In his will, Franklin set up a self perpetuating trust so that he could control his assets for the next 200 years. But even Franklin knew that two centuries were long enough to control his assets after his death. So, he arranged to dispose of his fortune by a final disbursement of it two centuries after his passing.

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