Unspoken (29 page)

Ellie shifted to business mode. “Bryce, you need to know about four things to understand Charlotte’s financial world. I’m going to give you the overview. The details you can take up with Fred’s lawyer on Monday morning.”

“That works for me.”

“Start with the big and work to the small, Ellie,” Charlotte suggested.

“All right.” Ellie changed the order of the files in her hand. “First, the Legacy Trust.” She opened the top folder. “Here’s what the lawyer and I have been able to come up with.”

Charlotte reached over and laid her hand on Ellie’s. “I haven’t heard any of this yet, Bryce—she’s been saving it for a surprise, but I can tell you from experience this is going to be good.” She looked at her friend. “So thanks in advance.”

Ellie smiled back at her. “I hope you’ll like what we came up with. Take a breath, Charlotte, there’s no need to be so nervous.”

“So says the lady who doesn’t have her name on the money right now.” But Charlotte smiled and complied.

Ellie looked at Bryce. “Give her a few months, she’ll get used to this.”

“Oh, I understand what she’s feeling,” Bryce replied, sharing a glance with Charlotte. His own nerves were rippling.

Ellie smiled. “I like the fact you’re both skittish right now, but let me relieve some of the stress. Charlotte said she wanted simple. So this is for you.” She handed Bryce a checkbook.

“Any check you write will clear. You could write a check for two billion today and it would clear. The checkbook basically—actually is—a line of credit with the trust holdings as the collateral. Your signature on a check—or Charlotte’s—is sufficient. Both your signature cards went on file with the bank this morning, so you can start using the checkbook today.

“The Legacy Trust owns shares in thirty-five companies, the most sizable positions being in the Saylor Chemical descendent stocks.” She handed him a page with the list and the number of shares owned. “Any income earned by the trust—dividends, interest—is used to buy more of the same stocks. When there’s a check to be cleared or a tax bill to pay, shares are sold. The Graham lawyer will handle those transactions. At the end of each month, you will get checking account and trust statements, showing the checks paid, the stock transactions, and the current trust holdings.

“The trust address—where all dividend checks, tax statements, and so forth, are sent—is presently the law firm. They will continue as administrator, generate the estimated tax filings, the annual tax return, et cetera. If you want to take over management of the trust, the majority of the shares reside in certificate form in a vault, with a working number of the shares kept in a brokerage account for convenience.

“There are no restrictions on the trust. You may use the money in any way you wish, buy or sell anything you wish. The current arrangement is simply one of many stable configurations.” She handed him a brokerage printout from that morning. “Earned dividends have been buying more shares this last year. The
current balance of the trust is nine billion, thirty-four million.” Ellie closed the folder. “And that’s it. That’s the Legacy Trust.”

Bryce looked at the checkbook he held, the page listing the holdings, then back at Ellie. He wanted to hug the woman for the job she had done. He settled for a chuckle. “I see your handiwork in the simplicity of it.”

Ellie smiled. “I tried. You can put your focus on what to do with the money, where to give it, and let the lawyer handle the trust transactions. The firm is paid a yearly fee plus a nominal rate per hour for their services rather than a percent of the trust. For lawyers, their fees are actually quite reasonable and have been set for the next ten years if you wish to continue with this firm. The fact that they administer a trust of this size drives down brokerage costs for their other clients, so they keep this business relationship at close to their actual costs.”

“A nice deal for us,” Bryce said.

“Fred was thinking ahead. I’ve brought you a few boxes of the checks, including some you can feed through your printer. If you wish to make electronic transfers from the checking account, the phone number of the lady who will handle them for you is on the account summary. She’ll set up onetime or repeating transfers and monitor that they’re successfully made as scheduled.”

“We’re not going to have many questions to talk about with the lawyer. This is really nice, Ellie. I admire the simplicity of it.”

“It’s what I do well. But you will have questions. I have business cards for you with direct numbers—both office and home—for everyone involved with the trust, and I’ve noted their roles.”

Charlotte shook her head when Bryce offered her the checkbook. “You keep it. I don’t want to even hold that checkbook.”

He placed it in front of him and glanced at it from time to time. Any check he decided to write would clear. His nerves
were settling down, but the reality of it began to take serious substance. He looked at Ellie. “You said you had four things, Ellie. What else have you brought us?”

Ellie shifted the folders in her hand. “Separate from the Legacy Trust is the Cleo Simm Trust. As Fred’s estate holdings were liquidated—Graham Enterprises, the coins, various minor ownership interests, and personal property—the money was placed in the Cleo Simm Trust. You’ve already been helping Charlotte give away those funds. I brought you more checks good for the printer, and this is for you.” Ellie handed him another checkbook.

“Your signature is now good on this trust account too,” she told him. “In a pinch, John or I can also sign as trustees. I currently handle the tax matters for Cleo Simm, and will generate the estimated tax payments and annual tax return for you. You’re welcome to take over administration of it—”

“If you don’t mind, I’d appreciate you keeping that role,” Bryce suggested.

Ellie smiled. “Sure, I can do that. The current balance of the Cleo Simm Trust is just over one hundred thirteen million. The funds in this trust sit in cash until they’re used, so you should consider giving from this account until the funds are down to, say, ten thousand, simply to keep the trust open for other possible uses over the years.”

“Just a hundred thirteen million,” Bryce said with a glance to Charlotte, feeling oddly more off-balance at hearing that number than the Legacy Trust total in the billions. Had Charlotte said no, she would have been able to give away sixty million in gifts and still have walked away with a fortune. Her decision to say yes to marriage . . .

Charlotte reached over and put her hand on his. “Breathe, Bryce. It’s just money.”

He laughed. “True.” He held her gaze for a long moment.
She’d married him not because of what she needed for herself—she’d been well set if she said no. She’d accepted the responsibility of what was entrusted to her and said yes because of what could be done with the money. He wasn’t going to let her down. He looked over at her friend. “Okay, what else, Ellie?”

Ellie handed him the third folder. “Separate from the Legacy Trust and the Cleo Simm Trust, Charlotte has some personal property—the truck, some bank accounts—around two hundred ten thousand total. I pulled together the paperwork necessary to change the ownership titles from her name to joint ownership. You may find it simpler just to spend down the money and close the accounts rather than retitle items.”

Bryce glanced at the documents and nodded. “Thanks.”

“The last piece we need to discuss concerns Charlotte’s art. It is owned by the CRM Trust. I’m presently listed as the administrator. It’s a management vehicle, rather than a financial one, and controls the copyright for the art after her death. There are no tax returns or other forms to file each year. The income from her art flows through the CRM Trust to her personal name. I suggest we update the trust so the funds flow through to an account in your joint names.” She offered Charlotte the paperwork to read and sign. “You’ll see the funds as direct deposits into the account as her artwork sells.”

“I hope you’re not planning to retire in our lifetime,” Bryce mentioned to Ellie, reading the page and signing it after Charlotte.

“I’m having too much fun to think of retiring,” Ellie replied with a smile at them both. “Okay, that’s the overview. I brought copies of the trust agreements for you, Bryce, copies of her last seven years of tax returns. And her passport is in the gray sleeve.” She offered the documents to him.

“You haven’t left much for me to do.”

“The goal was simplicity and stability. That I can manage. Giving the money away is your challenge.”

“Now you see what a business meeting with Ellie is like,” Charlotte said. “I listen, follow her advice, and I’m glad she’s handling things.”

Bryce nodded. “Ellie, this really is a remarkable piece of work.”

“I’ve had three years to think about it. What you see as simple is the result of throwing out all the ideas that were complex until we figured out the definition of simple in Charlotte’s situation. It took some time to get down to this. I think it will do the job for you.”

“It will.” Bryce opened the Legacy Trust checkbook, looked at the very neatly written amount in the front of the registry. She’d used the memo line to write out the full starting balance. He read the number and could feel the adrenaline kick in once more. “Would you like a job? When you’re not managing Charlotte’s and Marie’s art, being her best friend, remodeling a home, thinking about marrying John, and having your own life? I could really use your help in the office.”

Ellie laughed. “It’s going to be fun, Bryce, over the next decade to watch you figure this out. I’ll be glad to help when I can. One of the joys of my days is walking into Charlotte’s studio to see what she’s working on. I’ll stop by to give you some time, and keep an eye on her art. It will make an ideal day.”

Bryce tugged a key out of his shirt pocket. “I had a copy made for you. You’re welcome here anytime.”

“I appreciate the key, but it won’t be necessary.”

Charlotte reached over and put her hand on Ellie’s arm. “Think of it as insurance, in case I lock my keys in the car.”

Ellie nodded and added the key to her key ring.

Bryce wrote down the current security code. She looked at it, nodded. “Rip it up, I won’t forget.”

Charlotte pushed back from the table. “A very good meeting. Is it okay if I escape to the studio?”

Bryce smiled. “Go.”

Ellie watched her leave. “She looks happy.”

Bryce heard the surprise in her voice, and chuckled. “You can relax, Ellie. I know you were worried, but Charlotte and I are going to be good together.”

“I’ll relax in a few months. I am very glad she married you, Bryce.”

Bryce tapped the two checkbooks. “I’m glad too, and for more reasons than the money, Ellie.”

“You’re a smart man.” Her smile faded. “I owe you some answers, concerning what she’s shared about what happened.”

“Not today.”

Ellie looked over at him, and he held her gaze. “Not today. We both get a pass from the hard things today.”

Ellie slowly nodded. “She didn’t sleep well.”

“No, she didn’t. But she’ll compensate by putting her attention on an ambitious sketch and working until she can’t see straight tonight.”

“You’re already figuring her out.”

“My wife . . . my job to figure her out.”

He picked up the box, the folders, the checkbooks. “Come back to my office for a minute, Ellie, if you have time. Let me show you what I’ve got organized so far. And I’d like your advice on a comfortable chair to move into the room for Charlotte.”

She smiled. “Sure.”

Charlotte tapped on his office door. “How’s it going?”

Bryce stretched his hands over his head, sorting out the kinks in his neck. “Very well.”

He pointed to the chair. “Try that one, see what you think. Ellie thought it might do as your chair.”

“My chair?”

“We’ll bring down a couple of pillows for it, get a sketchbook to rest on that shelf behind it, fill a mug with pencils—you want to come hang out with me while I work, you’ll have a comfortable place.”

She smiled and settled into it. “I appreciate it.” She rested her feet on the footstool he’d brought in, nudged it a few inches closer. “This is very nice.”

Bryce smiled. “Not quite as inviting as stretching out on a couch for a nap, so if I see you nodding off, I’ll send you elsewhere.”

“Deal. I came to see if you want to break for a late lunch.”

He glanced at the clock, surprised to find it was after three. Ellie had left shortly after one p.m. “Sure.” He pushed back from the desk. “So how is our first day going, Mrs. Bishop?”

“I’m glad it’s Friday.”

He laughed. “You know, I am too.”