Chapter 12 - Niles Does Not Run Wexler Dynamics
News traveled through the family immediately.
“Niles owns the company.”
No.
I corrected everyone.
“He owns a beneficial interest in thirty-six percent through a trust.”
Nobody liked that sentence.
Too boring.
Good.
He did not receive a company credit card.
He did not attend board meetings.
He did not approve budgets.
He did not have access to millions.
The trust received distributions.
They were retained and invested according to its terms.
Some could be used for his health, education, support, and approved needs.
But ordinary parental obligations remained ours.
We did not start charging the trust for groceries.
Alden was adamant:
“Do not turn the child’s asset into household operating cash.”
Agreed.
Niles did not even know percentage.
At five he understood:
“Grandpa Howard left something for later.”
That was enough.
At ten?
More.
At sixteen?
Governance education.
At adulthood?
Full information.
The trust required financial education before any later discretionary powers expanded.
Howard had thought ahead.
Perhaps because he knew family ownership could deform people.
He had watched it happen to Eugenia.
May you like
Maybe to himself.
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