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programs, but the attorney was not knowledgeable in that area.
Mr. Norton instead reviewed Mr. Crockett’s publications and
consulted with his sister-in-law, Kim Norton, with regard to
whether to purchase the trusts. Mr. Norton did not consult the
Internal Revenue Service (IRS) as to the tax consequences of
participating in the trusts.
Mr. Norton purchased three trust programs from Mr. Crockett
for $3,500 to $8,500 each: Denali Company Trust, South Denali
Lands Trust, and Finger Lake Holding Trust.3 Mr. Norton also
paid a yearly fee of $1,500 to remain in Mr. Crockett’s trust
program. For each of these three trusts, Mr. Crockett and Ben
Owens (Mr. Owens) were appointed cotrustees. Mr. Owens resides
in Palmer, Alaska.
Mr. Norton initially met Mr. Owens through his church in the
late 1980s. Mr. Owens was an acquaintance of Mr. Norton’s
brother, David Norton. Mr. Norton and Mr. Owens became better
acquainted in 1992 when Mr. Owens sought Mr. Norton’s advice on a
family matter, and when Mr. Owens joined Amway after Mr. Norton’s
introduction. Mr. Norton appointed Mr. Owens as a trustee due to
his “impeccable character”, his tendency to make conservative
3 Mr. Norton is the trustee of several other trusts,
including the Buffalo Contracting Trust, the Clement’s Family
Trust, the Nicholas and Lake Family Trust, and the North Fork
Trust. Mr. Norton created another trust named the 2880 Papa
Trust, but did not carry out his intention to grant assets to the
trust.
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Last modified: May 25, 2011