The Los Angeles Bankruptcy Blogger presents, ”A FAMILY FEUD, Los Angeles Bankruptcy Style!”
Based on a true story. The names have not been changed.
This is Reality Bankruptcy.
Starring, the United States Supreme Court.
Sponsored by, BANKCHAMPAIGN, N. A.
Transcribed in Hollywood, California.
Our story begins in 1976. The father of Randy Bullock established a trust. The beneficiaries were his five children, including Randy. Dad chose Randy to be the trustee. The trust was composed of a single asset. The asset was a life insurance policy. Dear Old Dad transferred the policy into the trust. The policy had cash value. It paid 6% interest. The trust agreement gave Randy the privilege of borrowing money from the trust.