Off Shore Trust Beneficiary Receives Unusually High Consulting Fee

According to experts, receiving $54 million dollarsfor consulting fees is highly unusual. Penny Pritzer, U.S. Commerce Secretarynominee, has been working on her family’s offshore trust for the past ten yearsand has collected this unusually high fee. Penny Pritzer is a beneficiary tothe trust, which according to experts makes the receipt of the millions evenmore odd. Experts say that to collect that much money there is typically a teamthat has provided some special consulting. Pritzker has stared the process to allowthe appointment of a U.S. trustee for the benefit of the family.  

See Margaret Collins & Zachary Mider, Pritzker’s $54 Million Family Trust Fee Seen As Unique, Bloomberg, May 20, 2013.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.