Over the past 95 years Mrs. Mildred Drake has amassed a family fortune that is worth hundreds of millions today. The purpose of her efforts was to generate substantial wealth for her family through and from family-owned businesses.
Managing the family wealth presented unique challenges, because the required capabilities were, in many situations, quit different from the entrepreneurial skills that enable Mrs. Drake to build her thriving business. Recognizing the challenges, Mrs. Drake established a separate organization, a "Family Office" to manage assets unrelated to the business operations and the securities owned, and that are part of the businesses operations.
Although she had no standard to follow, Mrs. Drake established the Mildred Drake Family Trust ("MDFT") to manage her wealth and to provide a broad array of other services. In addition to taking into account the size and diversity of the family portfolio, Mrs. Drake considered the family's investment objectives, risk appetite, and desire to maintain control over wealth management. As well as the needs and objectives of different and successive generations in determining the right approach to structuring MDFT.
Learn more about the Mildred Drake Family Trust and our support services.