Trusts as ‘toothpaste tubes’
Barry Haimo of Haimo Law tries to bring a breath of fresh air to the discourse on trusts by explaining the similarities of trusts and toothpaste tubes:
‘Trusts are in fact a lot like toothpaste tubes. Let me tell you how. First, you have full control over how much toothpaste is squeezed out. You can squeeze out a little or a lot. It’s customary only to use a little toothpaste. You just don’t need that much to do the job. Conversely, have you ever been able to reinsert toothpaste that has been squeezed out back in the tube? The answer is probably a resounding “no”. Once it comes out, it stays out for good. Knowing that makes you a little more careful from the outset.’
Haimo, B. E. (2018). Trusts are like toothpaste tubes. Retrieved from https://haimolaw.com/trusts-are-like-toothpaste-tubes/
Drawing on some of the findings from our ‘Images of Philanthropy’ Initiative, each entry in this accompanying blog series introduces one image that has been put forward in an academic or non-academic context to depict or characterise an aspect of philanthropy in its different forms and expressions.
For further information about the ‘Images of Philanthropy’ Initiative, please contact Dr Tobias Jung.