Keeping Positive: Establishing a Charitable Remainder Trust | American Funds

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Keeping Positive: Establishing a Charitable Remainder Trust

Happy and healthy 99-year-old Frank Fukuhara is devoted to his family and enjoys a good game of golf. His financial advisor helped him budget for both, while sharing his wealth with charitable organizations. 

Video

Featuring

Frank Fukuhara

Transcript

RECORDED JUNE 10, 2014

Frank Fukuhara: I tell everyone, “If you can’t laugh, you might as well be dead. Because laughing makes you smile and makes you think of happy things.”

My name is Frank Fukuhara. I am 99 years old. I’m in good health. I’m very much devoted to my family. I have two daughters, four grandchildren and one great-grandson. They are the ones that make my world go around, which makes me very happy.

Frank: Oh, we’re getting down to business now! Stuart is back there, I have to be careful of what I say!

Jimmy and I were at this gathering in Venice — they call it a community center. That’s where we learned what kind of a work that Stuart did.

Stuart: We met him at a seminar to try to generate contributions for a charity. And they had a piece of property that they knew was worth a lot more than what they bought it for. They were interested in selling it. So we just suggested a charitable remainder trust. It gave him an opportunity to sell the properties, not pay the income tax on the gain, also get a tax deduction and then generate income.

Frank: We looked at each other and said, do you know what a charitable remainder trust is? And I said, no, I never heard of the word. So the more we talked with Stuart, we thought it was a good idea. My understanding is that when both wife and I die, the money will go to those two charitable institutions.

I have a budget for my golf, I have a budget for my garden, I have a budget for my children. And as long as Stuart makes money for me, he’s going to be my friend. I hope you’re recording all that!

When I’m able to be outdoors and breathe the fresh air, and fellowship with my fellow golfers, I say thank you.

People in Santa Monica, West Los Angeles and Venice all went to a place called Manzanar. That is near Lone Pine. We left the camp and the government paid our way to our destination. So when I arrived in Santa Monica, the red house that we had left was still standing. But the plumbing was all gone. So you can imagine the challenge I had, starting my life on my own with nobody to help me. I had two dollars in my pocket. But then I realize today that I become a man.

I have three women who have a big impression on me: my mother, my first wife and Yoko. And if it wasn’t for Yoko, I wouldn’t be here today. And that’s the truth. We have a lot of fun together, and she’s always watching my health. She want to me live to be 120. I won’t live to be 120. If I live another five years I’ll be happy.

You have to have a positive… You can’t be thinking about how sorry you are for yourself. No. You have to be on the upbeat. And put this thumb up!


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Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and not to be comprehensive or to provide advice. Investors should consult their tax or legal advisors. 

Past results are not predictive of results in future periods.