# SECRETS to Rockefeller's trust. How to create GENERATIONAL WEALTH!

An episode of [Earn Your Leisure](https://invisiblenetwork.ai/podcast/1450211392), 26 Dec 2025, 14 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/8dbc4f54-a337-4481-9ef2-b355012b0a3d/3d7f7ae2-a224-4e43-82fe-b3bc01532736/audio.mp3?utm_source=Podcast&in_playlist=eac4c628-29cb-469a-b5c8-b355012b0a48

In this clip Storm Leroy talks about the keys to build generational wealth through opening up a trust. #trust #generationalwealth #lifeinsurance See omnystudio.com/listener for privacy information.

## Transcript

[0:01] Speaker 1: This episode is brought to you by P and C Bank.
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[0:43] Speaker 2: Yeah, in twenty nineteen, my life changed buying real estate,
[0:47] Speaker 2: doing all these great things. I understood the value of
[0:49] Speaker 2: having real estate and wanting to hand it over to
[0:52] Speaker 2: my legacy, to create a legacy with that. But once
[0:55] Speaker 2: I actually went to create a living trust and I
[0:59] Speaker 2: saw what it can do, That's when I knew I
[1:01] Speaker 2: had a bigger narrative I needed to share with the people.
[1:04] Speaker 2: So my thing was I looked at who created a
[1:08] Speaker 2: living trust to hand it down through their legacy, and
[1:11] Speaker 2: I said, it's Rockefeller. So I went on to read
[1:14] Speaker 2: the Rockefeller Trust from nineteen thirty four, and also there's.
[1:17] Speaker 3: A book called What would Rockefeller Do?
[1:19] Speaker 2: So I stayed up reading all these things about how
[1:21] Speaker 2: he would take this, put it in an account and
[1:23] Speaker 2: only give a portion to the legacy, and then have
[1:26] Speaker 2: his children create a trust. And now that money compound interest.
[1:29] Speaker 2: He wouldn't give it to him until they turn a
[1:31] Speaker 2: certain age. And I'm like, I could do that.
[1:34] Speaker 3: We can do that.
[1:36] Speaker 2: The information was right there. So I sat down with
[1:37] Speaker 2: my trust attorney. I said, I want to do that, Like, well,
[1:40] Speaker 2: you want to do it, but I want to do that.
[1:42] Speaker 3: It can be done.
[1:43] Speaker 2: So we structured it, worked it out where if not
[1:47] Speaker 2: if but unfortunately we all pass away. When I pass away,
[1:51] Speaker 2: a percentage of my properties would be sold, not the
[1:54] Speaker 2: ones that I hold long term, like I have properties
[1:57] Speaker 2: I do keep my short term properties those would be sold.
[2:00] Speaker 2: That money would now go into a brokerage account. That
[2:04] Speaker 2: brokerage account would be in the name of the trust.
[2:07] Speaker 2: That money for that specific account would be for my
[2:10] Speaker 2: grandchildren starting off, not my immediate family. My immediate family
[2:14] Speaker 2: would get my life insurance policies, which are millions of
[2:17] Speaker 2: dollars policies and the main properties that I hold, So
[2:20] Speaker 2: they are taken care of. But we need to start
[2:23] Speaker 2: thinking about the grandkids, the great grandkids, those generations.
[2:27] Speaker 3: How do you start their growth? You start their.
[2:29] Speaker 2: Growth by putting that money in a brokerage account, and
[2:31] Speaker 2: they don't get that money until they turn twenty one
[2:34] Speaker 2: years old. So let's use the example of a million dollars.
[2:37] Speaker 2: I put a million dollars in a brokerage account for
[2:39] Speaker 2: my grandkids. They don't get that till they turn twenty one,
[2:41] Speaker 2: gaining six percent interest six percent interest.
[2:45] Speaker 3: They say, that's twenty one.
[2:46] Speaker 2: So that money turns up to about three point eight
[2:48] Speaker 2: million dollars for my grandkids.
[2:50] Speaker 3: My grandkids, they wouldn't get it all that we could have.
[2:53] Speaker 2: By one point six till I leave one point six
[2:55] Speaker 2: in there for my great grandchildren for twenty one years,
[3:00] Speaker 2: turns into about three four five six. That turns into
[3:02] Speaker 2: about six point seven million dollars for my great grandchildren.
[3:07] Speaker 2: They don't get it all they could have, So now
[3:09] Speaker 2: that's about one point one know about two point two
[3:13] Speaker 2: point three two point three stays in for my great
[3:16] Speaker 2: great grandchildren so they get about eight point one million dollars.
[3:20] Speaker 2: You see how that happens. That's compound interest over twenty
[3:23] Speaker 2: one years. So we have to look at that number.
[3:26] Speaker 2: But what makes the trigger and the explosion even bigger
[3:30] Speaker 2: is the fact that what Rockefeller did is that was
[3:33] Speaker 2: just his trust. What he did was, now each children
[3:37] Speaker 2: opened up, each child opened up a trust. So now
[3:40] Speaker 2: his children had a trust, so he would pay his grandchildren,
[3:43] Speaker 2: and his children would pay them.
[3:44] Speaker 3: That's twice.
[3:45] Speaker 2: So now his grand his children, then his grandchildren have
[3:48] Speaker 2: a trust, so his great grandchildren would get paid three times.
[3:51] Speaker 2: So now if we look at rockefeller trust paid out
[3:53] Speaker 2: now eleven generations and counting continuously. And what he also
[3:58] Speaker 2: did was have a life insurance policy on every person
[4:01] Speaker 2: in the trust, creating his own bank.
[4:04] Speaker 3: And now what does that do. This is my structure.
[4:06] Speaker 2: Also, any one of my children or grandchildren who want
[4:09] Speaker 2: to start a business, what do they do? Talk to
[4:11] Speaker 2: the trustees and now you borrow money. We become our
[4:14] Speaker 2: own bank. So when someone dies, that money goes into
[4:17] Speaker 2: the trust. You pay when you get the policy, you
[4:20] Speaker 2: pay it outright, So now that money is available in
[4:22] Speaker 2: the trust. So now also what I did was I
[4:24] Speaker 2: retweaked my trust last year, and it was twenty one
[4:28] Speaker 2: that I wouldn't give them money.
[4:29] Speaker 3: I changed it.
[4:30] Speaker 2: I changed the way they get money at eighteen and
[4:32] Speaker 2: they can have a business started at eleven. You know
[4:35] Speaker 2: why because now with technology, kids are now figuring out
[4:38] Speaker 2: new ways to start a business.
[4:40] Speaker 3: So I want them to be able to.
[4:41] Speaker 2: Present a business loan, a business proposal to the trustees
[4:45] Speaker 2: so they could borrow money. These are the things where
[4:48] Speaker 2: we don't look at them. When people say I don't
[4:49] Speaker 2: have the money to do this. You know what, I
[4:51] Speaker 2: tell them, Yes, you do. The here you breathe is money,
[4:55] Speaker 2: a life insurance policy. Soon as you die, you worth money.
[4:59] Speaker 2: They are general and there are groups of people when
[5:01] Speaker 2: people die, their objectives to make sure they have a
[5:03] Speaker 2: policy on their grandmother, policy on their father, to do
[5:06] Speaker 2: exactly what we're talking about. But we look at this
[5:08] Speaker 2: taboo when it can't be taboo. It shouldn't be taboo.
[5:11] Speaker 2: The main thing about it is you're thinking about the legacy.
[5:14] Speaker 2: And when I tell people, when I speak to you,
[5:16] Speaker 2: I'm not speaking you don't speaking to.
[5:17] Speaker 3: Your leg legacy. You're just a vessel for me to
[5:19] Speaker 3: get the message to you.
[5:21] Speaker 2: So you can hear the message and see it and
[5:24] Speaker 2: it reverberates in your brain. And as it's doing this,
[5:27] Speaker 2: you literally are talking to your legacy. While I'm speaking,
[5:29] Speaker 2: going I got you, don't worry. Storm told me how
[5:33] Speaker 2: to do it. Now I'm gonna give me a life
[5:34] Speaker 2: insurance policy. When people have a life insurance policy, let's
[5:37] Speaker 2: say roughly four million dollars, you have half a million
[5:40] Speaker 2: dollars left on your home mortgage, and you say to yourself,
[5:43] Speaker 2: I'm leaving my family a million dollar. Actually you're not,
[5:47] Speaker 2: because when you die, that policy has to pay half
[5:50] Speaker 2: a million to the mortgage so they can stay in
[5:51] Speaker 2: the house. You're only leaving them half a million dollars.
[5:54] Speaker 2: We don't think about that mortgage behind us. So this
[5:57] Speaker 2: is where I say, get yourself a whole life. Excuse me,
[6:00] Speaker 2: get yourself a term that's for a half a million
[6:03] Speaker 2: or a million dollars just to cover the house so
[6:06] Speaker 2: your real policy doesn't get broken up. And now you
[6:09] Speaker 2: have that term, pay off the mortgage, any money left,
[6:12] Speaker 2: put it in a broken's account, and now you start
[6:14] Speaker 2: the system.
[6:16] Speaker 4: So let's stay on this conversation about the trust for
[6:17] Speaker 4: a minute. So irrevocable life insurance trust or.
[6:21] Speaker 2: A revocable Let's just start off as a revocable voc
[6:24] Speaker 2: because you want to be able to.
[6:24] Speaker 4: Say something because you and you can change it. Yes,
[6:28] Speaker 4: all right, So all right, so who shut this up
[6:30] Speaker 4: for you? Your attorney?
[6:31] Speaker 3: Yeah, my statement?
[6:32] Speaker 4: You told them or they you educated them, or they
[6:34] Speaker 4: educated you. Obviously they're already educated because their attorney. But
[6:37] Speaker 4: it sounds like you kind of already had some idea
[6:39] Speaker 4: of what you wanted to do because you did some
[6:41] Speaker 4: reading before that.
[6:42] Speaker 3: So what was the process?
[6:44] Speaker 4: You kind of said this is what I want to do,
[6:46] Speaker 4: and then they kind of added to it or they
[6:48] Speaker 4: said this is what you should do.
[6:50] Speaker 2: I came to them with my plan and my structure first,
[6:52] Speaker 2: and I really wasn't taking a note for an answer
[6:54] Speaker 2: because I know it could be done. And there are
[6:56] Speaker 2: some people that, like there are mechanics who are broke,
[7:01] Speaker 2: like they just don't know fully how to do certain things.
[7:04] Speaker 2: So you really have to find the right person that
[7:07] Speaker 2: does these things. And I would always say, speak to
[7:10] Speaker 2: someone who has a trust, speak to someone who you
[7:13] Speaker 2: know they can refer you to someone.
[7:14] Speaker 3: But that takes time.
[7:16] Speaker 2: But they would give me little tidbits of where we
[7:19] Speaker 2: can do this, or they have a network of people
[7:22] Speaker 2: and a law firm and they reach out to them.
[7:24] Speaker 2: Like my first trust costs me about twelve thousand dollars.
[7:27] Speaker 2: My newest one costs me roughly almost twenty thousand because
[7:31] Speaker 2: I have a lot.
[7:31] Speaker 3: Of things to fund it with.
[7:33] Speaker 2: But of starting out, trust probably run you anywhere from
[7:36] Speaker 2: three to six thousand dollars.
[7:38] Speaker 3: But you have to look at the big picture.
[7:39] Speaker 2: But I started out having a plan and I really
[7:42] Speaker 2: really was adamant about getting this structure done.
[7:45] Speaker 3: That was it for me. You will too, Yeah, with
[7:48] Speaker 3: the trust, there's a thing called a poor over will.
[7:51] Speaker 2: That's attached to the trust for all the items that
[7:53] Speaker 2: you don't put into the trust automatically palls over and
[7:56] Speaker 2: fall into the will, like jewelry, like they that are
[8:00] Speaker 2: air looms, it'll automatically go in that will.
[8:03] Speaker 1: Yeah, I'm saying that thinking, obviously you're educated. How often
[8:06] Speaker 1: are you meeting with your trust attorney? Because I was
[8:08] Speaker 1: having a conversation with a young lady the other day
[8:10] Speaker 1: and she's finding it hard to have her parents, you know,
[8:13] Speaker 1: even buy into the idea of a trust. So how
[8:15] Speaker 1: often did you meet with family if you did at all?
[8:18] Speaker 1: And how often did you meet with the trust attorney?
[8:20] Speaker 1: Is that like a once a year thing or was
[8:22] Speaker 1: it every six months? Because I'm sure you acquiring properties
[8:24] Speaker 1: and other assets throughout the year, Like, how often is
[8:28] Speaker 1: that happening?
[8:29] Speaker 2: In the beginning, when I started, we had to have
[8:31] Speaker 2: a conversation literally it was about almost every other week,
[8:34] Speaker 2: sometimes every week to plan us out with insurance and
[8:37] Speaker 2: all that stuff.
[8:38] Speaker 3: Very complicated.
[8:39] Speaker 2: But once it was set, the updating of the trust
[8:42] Speaker 2: is every three years, right, but if there's something of
[8:46] Speaker 2: urgency that I need to update, because here's the thing,
[8:49] Speaker 2: and I want to throw this part also, I'm gonna
[8:50] Speaker 2: drop it, y'all pick us up. When you're buying things
[8:53] Speaker 2: in you're holding company, you're holding LLC should be in
[8:56] Speaker 2: the name of your trust. So if something happens to you,
[9:00] Speaker 2: the properties automatically fall into the trust, automatically fall in there,
[9:08] Speaker 2: so you don't have to fund the trust because the
[9:10] Speaker 2: trust own the LLC. So if let me give a
[9:15] Speaker 2: quick example. You know how you put your name on
[9:17] Speaker 2: every single LLC. You open up a LLC, you put
[9:19] Speaker 2: your name on it, open up the LLC, you put
[9:21] Speaker 2: your name on it.
[9:22] Speaker 3: But if you was to have.
[9:23] Speaker 2: The property one two three Smith Street in its own LLC.
[9:27] Speaker 2: The name on that LLC would not be you, it
[9:31] Speaker 2: would be your trust. So if something ever happens, it
[9:35] Speaker 2: automatically goes to the trust because you sign the trust
[9:39] Speaker 2: over as the owner. Does that make sense? Automatically so
[9:43] Speaker 2: would trinkle effect. So with that being said, excuse me.
[9:46] Speaker 2: So with that being said, you wouldn't have to fund
[9:48] Speaker 2: one at a time. You could just have that trust
[9:51] Speaker 2: own it. All these LLCs bile straight in from your holding.
[9:55] Speaker 2: But also to let me not glaze over something you said,
[9:59] Speaker 2: it's so pot want to have the conversation with your
[10:01] Speaker 2: family and sit them down and explain. Because my thing was,
[10:04] Speaker 2: after everything's said and done, my lawyer, we would have
[10:07] Speaker 2: the conversation with each one of them. Here's who's getting this,
[10:11] Speaker 2: who's the trust, there's the trustee, this is what's gonna happen,
[10:15] Speaker 2: this is what it's supposed to be. I want you
[10:17] Speaker 2: to do this, and it's a thing I'll call a
[10:19] Speaker 2: letter of trust, handwritten. I want this copy of this
[10:22] Speaker 2: letter in my hand written form and my signature be
[10:26] Speaker 2: copied for every generation, every trustee, so they could look
[10:29] Speaker 2: and go.
[10:30] Speaker 3: He thought about me. I want them to see what
[10:34] Speaker 3: I meant and.
[10:35] Speaker 2: Why I did this, because that's powerful and they will
[10:39] Speaker 2: get it and go.
[10:40] Speaker 3: Man, my great great grandfather thought about me. So that letter.
[10:45] Speaker 3: You don't have to, but the thing is always impacted.
[10:48] Speaker 2: So you need to have that discussion with your kids,
[10:51] Speaker 2: your grandkids. There's only so far trust can go. It
[10:54] Speaker 2: only could go to the last person alive in your
[10:57] Speaker 2: generation up to a certain age. So like if I
[11:01] Speaker 2: have my grandchildren, my last one or he would have
[11:05] Speaker 2: to now take the trust format and restart it again
[11:09] Speaker 2: and follow the same thing. Trusts can't live on an infamy.
[11:12] Speaker 1: So you've created the generational wealth and the other part
[11:15] Speaker 1: was just the sustainable wealth yep, Like that's the key, right,
[11:18] Speaker 1: because it could get mixed up from generation generation. Yeah,
[11:20] Speaker 1: but what you're doing is pretty much putting up the
[11:22] Speaker 1: barriers like, no, we're going to sustain this forever forever.
[11:26] Speaker 2: The biggest, biggest mistake that a lot of people make,
[11:28] Speaker 2: unfortunately when we have real estate is thinking that our
[11:32] Speaker 2: children want to be landlords.
[11:34] Speaker 3: We can't.
[11:35] Speaker 2: We can't assume that they want to be landlords. I
[11:37] Speaker 2: had a friend of mine who I knew through someone else.
[11:40] Speaker 2: He died didn't have a trust, left the properties to
[11:43] Speaker 2: his kids in a will.
[11:46] Speaker 3: They sold them because they didn't want nothing to do
[11:48] Speaker 3: with real estate.
[11:49] Speaker 2: That's that destroyed me because I knew what his objective was.
[11:54] Speaker 2: So we need to put things in place to go, Okay,
[11:56] Speaker 2: if you don't want to be a landlord, this is
[11:57] Speaker 2: what we're gonna do. I'm gonna have a company do this,
[12:00] Speaker 2: gonna sell it, put the properties in the brokerage account
[12:03] Speaker 2: where it's gaining compound interest to do something.
[12:06] Speaker 3: So that's the key.
[12:07] Speaker 2: We need to stop, you know, really projecting our wants
[12:11] Speaker 2: and needs on children and grandkids when.
[12:13] Speaker 3: They're like, yeah, I got my own plan. That's cree y,
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