Trusts and foundations are actually contracts. This is an important concept to grab ahold of.
We need to understand how contracts work. The obligation of contracts are written into our US Constitution. Our forefathers were not a bunch of country bumpkins with muskets and pitchforks. They were very savvy business people. They were involved in politics, commerce, trade, and law in England.
As a matter of fact, the Revolution started with the Tea Party. Taxation without representation. They had no power in what they were creating or doing, but yet they were being taxed. It was all about the money. That was the story and they were making their statement.
Our US Constitution says, “No state shall pass any law impairing the obligation of contracts.” Contracts are paramount. Marcy and I had the privilege of spending time just a couple months ago with Rabbi Daniel Lappen. If you ever get a chance he’s written a wonderful book called Thou Shall Prosper. He talks about ancient Jewish wisdom in regards to the spirituality of money and how they view it differently than most of us in Protestant America. His belief is that is why they are so much more successful.
Money is not evil. The love of money is evil, but money in and of itself is a tool. You can do good with it or you can do evil with it, it’s up to you. It is armor all by itself.
Rabbi Lappen said that if we lost contracts, we would lose the foundation for our entire society. We are a law based society and contracts are essential. We even have social contracts, which are how we agree to work with one another and know what is right from wrong. They’re contracts between you and an entity and whoever is controlling that entity.