Sting was in the news this week due to his announcement that he does not intend to leave his $300 million fortune to his six children at his death. He believes that a trust fund would be an albatross around their necks.
1. I think leaving money to charities instead of the six people in the world he loves the most is over-reactive. A trust can be structured to provide incentives to his children to work and be productive while providing safety net for them.
2. Most people would be willing to suffer through that albatross.
3. $300 million is impressive for a man who has produced only unmemorable, monotone dirges in the 30 years since breaking up the Police.