What can be said about the earthquake and subsequent destruction and devastation in Japan?

The pictures on our televisions tell the story and set a graphic backdrop that leaves all of us moved. I can't imagine that it is even possible to overstate the magnitude of the events as they impact the lives of so many there. But I want to talk about a residual tremor - the tremor that rippled through stock markets over the following few days, and more specifically, the wave of forecasts of financial armageddon from the news media.

Trusts continue to be widely used in today's estate and financial plans. Different trusts are set up for various reasons. Examples include testamentary trusts in wills to ensure adequate income to the surviving spouse and discretionary trusts used to spread income to several beneficiaries. Where a person wishes to transfer property to a named beneficiary as part of an estate plan, a trust provides an excellent vehicle for this purpose. In the case of capital property, tax on the capital appreciation within the trust is deferred until disposition. 

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