Trust fund

(Courtesy image)

Wife, daughter of former Ogden councilman/Reagan appointee guilty of mishandling trust fund

OGDEN — Alex Hurtado would be chagrined at what has become of his legacy as family members wrestle over the trust fund he left behind.

A 2nd District Court jury in Ogden recently found his wife and daughter guilty of mishandling the trust fund, delivering a $341,770 judgement against them. The suit was brought by Hurtado’s brothers and sisters and other relatives in 2007.

Hurtado died of a heart attack in 2004 at age 70 after a distinguished civic and political career that included serving in the Reagan White House, eventually as the national director of Hispanic affairs in the Reagan presidency.

Romney's tax-avoiding trust fund earned 1,000%

In January 1999, a trust set up by Mitt Romney for his children and grandchildren reaped a 1,000 percent return on the sale of shares in Internet advertising firm DoubleClick Inc.

If Romney had given the cash directly, he could have owed a gift tax at a rate as high as 55 percent. He avoided gift and estate taxes by using a type of generation-skipping trust known to tax planners by the nickname: "I Dig It."

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