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TornSoul
BIG
Libertas Fidelitas
   |
Posted - 2009.07.02 18:51:00 -
[1]
BTF.BIG-EVE.COM
As of this post the BIG Trust Fund is open to the general public.
It has in fact been operating for the past 4 months already, as it was decided to do an extended "pilot run" before opening it up to the general public.
So what is the BIG Trust Fund excactly?
Basically it's a way for you to pass on a monthly income from production of (valuable) T2 BPO's to friends, perpetually, should you decide to retire as capsuleer.
The front page of the BIG Trust Fund website describes this in tree short paragraphs, just with a bit more embelishment  - Please go have a look.
------
If retirering as a capsuleer, you have a couple of options with regards to your possessions:
1: Do nothing, just leave them (Good thing if you choose to come out of retirement)
2: Liquidate all or parts, and distribute the ISK and none liquidated items among friends.
The BIG Trust Fund offers a 3rd option
3: Keep the most valuable ISK making items (almost by default expensive T2 BPO's) in production with a trusted 3rd party, who takes care of of distributing the profits to designated Beneficiaries each month.
The main advantage of the BIG Trust Fund option is that, over time, it will accrue a greater amount of ISK for the Beneficiaries.
The problem is of course finding that trusted 3rd party.
4 months ago (lets call him) Mr X chose BIG as that trusted 3rd party.
Mr X approaching me about this came totally out of the blue, and was somewhat bittersweet, as it's someone I've personally had other business relationships with over quite a number of years, and I'm quite sad to see him retire.
However once the proposal was made, and the technicalities sorted out (actually before ), the idea took hold with me to expand this to others as well.
Mr X thought it a great idea as well, and I dedicate the idea of the BIG Trust Fund to him.
And as they say, the rest is history - The multiple Beneficiaries Mr X designated has since recieved a generous monthly payout, that easily can keep them playing EVE forever.
BIG Lottery |
TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.07.02 18:52:00 -
[2]
I hope you enjoyed the litte writeup about the "birth" of the BIG Trust Fund
I thought it would make the post a bit more interesting than "just another ad" for a service.
One other thing I'd like to mention is that I've been a bit torn between where to post this post... MD or sell forum?
Ultimatly I decided on MD, as I believe that's where most of the BIG Trust Fund's potential "clients" will come from anyhow.
I'd also like to add that I don't expect the BIG Trust Fund to be a roaring monster of monthly ISK payouts (that's not why I'm doing it) - In fact my expectations are something in the order of 0(zero) to 2 new clients a year.
The reason for this low expectation is mainly that it's a very very select few that can actually take advantage of the service in the first place, and of those, most will probably just chose to liquidate.
But for those few who wishes to beget their friends with a nice monthly income - There it is.
BIG Lottery |
Dzil
Caldari
Flux Technologies Inc
|
Posted - 2009.07.02 19:20:00 -
[3]
Good luck with your business... you may want to consider either creating some sort of advertising in your signature, or an off EVE resource like the eve expo - especially if you only expect to take in 1-2 clients/year as your visibility will be very very minimal.
----------------------
Dzil's Corp Sales - 200m for 7+ standings
---------------------- |
XyphonSinclaire
BIG
Libertas Fidelitas
|
Posted - 2009.07.02 19:46:00 -
[4]
 Originally by: Dzil
Good luck with your business... you may want to consider either creating some sort of advertising in your signature, or an off EVE resource like the eve expo - especially if you only expect to take in 1-2 clients/year as your visibility will be very very minimal.
Visibility shouldn't be too much of an issue, considering the variety of other services BIG provides, including (but not limited to) The Big Lottery.
/end shameless plug  |
Selene D'Celeste
Caldari
The D'Celeste Trading Company
ISK Six
|
Posted - 2009.07.02 21:49:00 -
[5]
I like this. Good people to be doing it too =D
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Drab Cane
Mining Emporium inc.
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Posted - 2009.07.03 01:49:00 -
[6]
Excellent idea!
I'm not familiar with BIG's inner workings - are there already measures in place to help the corp outlast any individual director/CEO?
-----------------------------------------------
- Who Dares, Wins
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Ray McCormack
hirr
|
Posted - 2009.07.03 09:34:00 -
[7]
I.B.2 doesn't make any sense, I think you're missing a negative.
| Auction Prowler |
Chaos Dreams
|
Posted - 2009.07.03 10:20:00 -
[8]
Posting to confirm my willingness to be the beneficiary of anyone's endowment who would like to make use of this service and is looking for a worthy recipient.
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.07.04 16:50:00 -
[9]
@Drab Cabe
Bar every BIG member getting hit by a bus at the same time, there should not be any problems
Originally by: Ray McCormack
I.B.2 doesn't make any sense, I think you're missing a negative.
I.B.2 in full states : The Beneficiaries shall retain nor carry any rights to the Assets
I don't see a problem with it?
Could you elaborate?
BIG Lottery |
James Tundra
Gallente
Tash-Murkon Prime Industries
|
Posted - 2009.07.04 17:02:00 -
[10]
Originally by: TornSoul
I.B.2 in full states : The Beneficiaries shall retain nor carry any rights to the Assets
The method with which you use the word, "nor" is considered archaic, the usage of the word nor is to be used after the negative word neither. Nor is used after neither to introduce the second member in a series, which is also negative.
The proper usage with your sentence would be,
The Beneficiaries shall neither retain nor carry any rights to the Assets
|
James Tundra
Gallente
Tash-Murkon Prime Industries
|
Posted - 2009.07.04 17:03:00 -
[11]
Edited by: James Tundra on 04/07/2009 17:03:24
Double post is fail post.
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Frenden Dax
Dax Acquisitions
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Posted - 2009.07.04 22:00:00 -
[12]
Originally by: James Tundra
Originally by: TornSoul
I.B.2 in full states : The Beneficiaries shall retain nor carry any rights to the Assets
The method with which you use the word, "nor" is considered archaic, the usage of the word nor is to be used after the negative word neither. Nor is used after neither to introduce the second member in a series, which is also negative.
The proper usage with your sentence would be,
The Beneficiaries shall neither retain nor carry any rights to the Assets
Confirming that this is the case.
|
TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.07.05 20:04:00 -
[13]
Edited by: TornSoul on 05/07/2009 20:04:38
Based on the feedback here the wording has been changed.
Thanks.
BIG Lottery |
suicide2121
Freelancing Corp
Confederation of Independent Corporations
|
Posted - 2009.07.06 03:48:00 -
[14]
Fantastic service Torn.
Highly recomended for anyone who will be leaving eve and wants to leave their friends wealth that will last and not be spent on something and blown up a week later. Torn is responsible, trustworthy and a valued member of the eve community.
|
ShadowandLight
Amarr
Hammer Of Light
Praetorian Guards.
|
Posted - 2009.08.05 20:53:00 -
[15]
Torn, great service, but may i add a suggestion
instead of keeping it forever, why not something like 12 months
then, provided they give u a secert password that was assigned when they 1st signed up, they get the BPO Back
I think it will get you MORE customers if they feel like one day sometime in the future they will get the BPO back in their possession.
Either way, you rock, BIG rocks... and 
|
Trustworthy Joe
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Posted - 2009.08.05 21:03:00 -
[16]
i like this.
good luck with it!
_______________________
with a name as trustworthy as mine, i cant POSSIBLY be an alt
Originally by: Cat o'Ninetails
<-- this is your brain on boosters
|
BuckStrider
Wreckless Abandon
Minor Threat.
|
Posted - 2009.08.05 21:59:00 -
[17]
I can see a BIG ripoff in the future.
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Kalrand
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Posted - 2009.08.05 22:48:00 -
[18]
Quote:
Section C:
# Should a Beneficiary abandon their share, their share shall be distributed to the remaining Beneficiaries in accordance to their existing share of the Trust
1. Abandoned shares can not be re-claimed at a later date.
# Should a sole Beneficiary abandon their share, their share shall be distributed to charity at the discretion of the Trustee
1. The BIG Lottery is a registred charity
Define abandoned? What if someone unsubs for a few months?
|
Herschel Yamamoto
Agent-Orange
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Posted - 2009.08.05 22:57:00 -
[19]
Originally by: BuckStrider
I can see a BIG ripoff in the future.
Given how BIG their anniversary lotteries have gotten, I see no reason to worry excessively about this. If they don't steal 120 bil of ticket money, they're not going to steal BPOs worth some tens of bil.
Also, Torn, I'd say that your proposal would have a lot higher chance of success if you said that the donor kept the nominal ownership of the assets. You're taking 20% of the profits, so even if they take back the asset, you've still been compensated for the time you invested in it.
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Elenos
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Posted - 2009.08.06 10:06:00 -
[20]
Edited by: Elenos on 06/08/2009 10:07:27
Forgive my understanding.
You pay into the BIG trust fund and then when you quit the game you promise to give monthly returns to my beneficiary - except - I've quit the game, so I can't tell / don't care if you are doing it or not. So essentially I am plying you with money until the day i quit and then you cash in with no obligation to pay out to the other party.
Its a great idea for the trustworthy. But losing a hulk and being podded by new corp members makes me feel less trusting of everyone.
|
Rivqua
Caldari
Omega Wing
R.E.P.O.
|
Posted - 2009.08.06 10:27:00 -
[21]
Originally by: Elenos
Edited by: Elenos on 06/08/2009 10:07:27
Forgive my understanding.
You pay into the BIG trust fund and then when you quit the game you promise to give monthly returns to my beneficiary - except - I've quit the game, so I can't tell / don't care if you are doing it or not. So essentially I am plying you with money until the day i quit and then you cash in with no obligation to pay out to the other party.
Its a great idea for the trustworthy. But losing a hulk and being podded by new corp members makes me feel less trusting of everyone.
I am guessing you never read the actual deal description :)
_________________
- Rivqua -
--- R.E.P.O. --- |
Admiral IceBlock
Caldari
Northern Intelligence
|
Posted - 2009.08.06 10:30:00 -
[22]
I would advise against investing in this IPO.
Want to know more? |
Vaerah Vahrokha
Minmatar
Dark-Rising
|
Posted - 2009.08.06 10:44:00 -
[23]
Quote:
Its a great idea for the trustworthy. But losing a hulk and being podded by new corp members makes me feel less trusting of everyone.
So, you choose a corp where their own members pod you but still preach an established corp how untrustworthly they are?
-
Auditing and consulting
Before asking for investors, please read
http://tinyurl.com/n5ys4h and
http://tinyurl.com/lrg4oz
|
Elenos
|
Posted - 2009.08.06 12:09:00 -
[24]
Don't turn the words around.
I was asking for clarification on the proposal in simple words.
I joined the corp, we had fun together, then new people joined who turned out to be scumbags.
I still don't see how the idea offers anything to people. Once you have left the game you have empowered a 3rd party to look after your stuff and continue to produce from it and distribute the profits to a beneficiary.
Explain to me how other than trusting the OP, the beneficiaries stand to gain anything from this ? I am NOT slating the trustworthiness of the OP.
But at face value this is an elaborate "can I have your stuff when you quit" plea.
The idea behind it - reward your trusted mates when you can longer play is very admirable however the mechanism is so open to abuse the idea would just seem implausible. If you had unconditional trust to the third party then it makes sense.
However if the 3rd party defaults then the people upset are a) the beneficiary who has no power over the controlled goods and b) you, if you come back to the game and find someone making profits off your old stuff and refusing to give/sell it back to you or pay out any dividend to your chosen beneficiary.
|
Fleshbot
|
Posted - 2009.08.06 16:53:00 -
[25]
Or just leave it to the Eve University. These guys provide a great service.
You can always dish out your other assets to your friends (I presume if you have a profitable BPO you lots of other assests as well).
Incidentally what happens after your friends retire? Does the money just get deposited into the dead account
|
Ray McCormack
hirr
|
Posted - 2009.08.06 17:09:00 -
[26]
Elenos, you should do some research before you start questioning possibly the most trusted corp and individual in EVE history.
Some people call me the space cowboy, yeah |
Teras Menac
Gallente
Caldari POS Constructions Inc.
|
Posted - 2009.08.06 17:18:00 -
[27]
How are you managing the work to keep those BPOs producing? Is that what your corp is going to be dedicated to? Is there a limit to your capacity to manage various BPOs?
|
Teavan
Gallente
First CityWide Change Bank
|
Posted - 2009.08.06 17:32:00 -
[28]
I am astounded at the number of people that don't know BIG. 
|
Elenos
|
Posted - 2009.08.06 18:45:00 -
[29]
Originally by: Ray McCormack
Elenos, you should do some research before you start questioning possibly the most trusted corp and individual in EVE history.
umm this bit was relevant
"I am NOT slating the trustworthiness of the OP."
I even put it in capitals :-/
|
TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.08.06 19:09:00 -
[30]
Originally by: ShadowandLight
Torn, great service, but may i add a suggestion
instead of keeping it forever, why not something like 12 months
then, provided they give u a secert password that was assigned when they 1st signed up, they get the BPO Back
I think it will get you MORE customers if they feel like one day sometime in the future they will get the BPO back in their possession.
Either way, you rock, BIG rocks... and
We might expand it to something like that in the future (I'm not ruling it out)
The main reason for not doing it right away is that I the first while would like to keep everything in the spirit of the favor Mr X asked me for.
Ie. his "Can/would you do this for me?" I'd like to keep as close to that simple promise/idea as possible, so that it's truly his last will that unfolds (both with the BPO's he left behind, and with the idea itself)
Secondly - As a personal preference I prefer to keep things as much IC/ingame as at all possible (which rules out the out-of-game hokey-dokey identity stuff for now)
---
Originally by: Kalrand
Define abandoned? What if someone unsubs for a few months?
If someone unsubs for a several months without letting us know, they do run the risk of being declared as having abandoned their share.
Roughly quarterly I will check if people are still around, or if I'm simply wasting time and ISK, wiring their share into a black hole.
It's hard to set up a hard rule for this. But we are not in any rush to declare shares abandonded.
---
Originally by: Herschel Yamamoto
Also, Torn, I'd say that your proposal would have a lot higher chance of success if you said that the donor kept the nominal ownership of the assets. You're taking 20% of the profits, so even if they take back the asset, you've still been compensated for the time you invested in it.
See my reply to ShadowandLight.
This whole concept has all kinds of possible extensions and add'ons that can be implemented. But for now I'm keeping it simple (see reply to ShadowandLight again)
---
Originally by: Elenos
I still don't see how the idea offers anything to people. Once you have left the game you have empowered a 3rd party to look after your stuff and continue to produce from it and distribute the profits to a beneficiary.
Explain to me how other than trusting the OP, the beneficiaries stand to gain anything from this ?
<snip>
If you had unconditional trust to the third party then it makes sense.
Please read about how this whole thing came about in the first place.
It wasn't my idea, but that of a Settlor who came to me.
So... Trust was there from the outset.
If you don't have that trust, the BTF is not for you - Simple as that.
There's really not much else I can add to put your worries at bay I'm afraid.
---
Originally by: Teras Menac
How are you managing the work to keep those BPOs producing? Is that what your corp is going to be dedicated to? Is there a limit to your capacity to manage various BPOs?
In the BIG scheme of things it's hardly even a drop in the bucket compared to all the other stuff BIG is involved in.
We have been doing pretty much the same thing for years with the BMBE (but for a limited time at a time - until a loan is paid of), no to mentione the BIG Deal, and various other ventures.
Is there a limit? Theoretically I guess there is, but Practically we are no where near it.
BIG Lottery |
Chloyee
|
Posted - 2009.08.06 20:31:00 -
[31]
Edited by: Chloyee on 06/08/2009 20:33:46
Edited by: Chloyee on 06/08/2009 20:32:11
I don't understand why the valuables can't be returned in the event the person should come back to EVE? I mean you state that it's because you can't be sure it's the same person, but surely a PIN or secret code could remove any doubt. I mean provided the person had the correct PIN, what would it matter who they were, they would have had to have gotten the PIN from the original owner, so they would be a beneficiary as surely as the beneficiaries you would be designated to provide money to. And now that raises another questions, how can you be sure the supposed beneficiaries are who they say they are? I mean how can you be worried about someone's identity in one instance and not in another? That one rule seems more like a play for some nice BPOs, than any claimed sense of concern regarding ownership and identity.
|
Thoraemond
Minmatar
Far Ranger
|
Posted - 2009.08.07 02:18:00 -
[32]
First and most importantly, it is nice to see this development!
Obviously you can run your own business however you see fit. Here are a few suggestions for improvement, any or all of which you might already have in mind. If you are not interested, perhaps this list suggests a niche or two for pilots to launch other Trust Administration operations:
- make this service available to all pilots;
- allow a Trust's Settlor to be amongst its Beneficiaries;
- make BIG's default role more clearly that of a Trustee;
- remove the activity requirement for Beneficiaries; and
- require unanimous agreement of Beneficiaries to liquidate capital assets.
Make this service available to all pilots, not just those who are retiring
Originally by: TornSoul
'Can/would you do this for me?' I'd like to keep as close to that simple promise/idea as possible, so that it's truly his last will that unfolds (both with the BPOs he left behind, and with the idea itself).
Why does a pilot have to retire to establish a Trust?
The key elements of a real-life trust are often termed 'three certainties': (a) what are the Assets, (b) the Settlor's intent to form a Trust, and (c) who are the Beneficiaries. Of course, to actually form the Trust, the Assets have to be handed over to a Trustee who has accepted the role.
This can all be done regardless of whether or not the Pilot retires.
For clarity, to preclude possible disputes, these key terms of a Trust might be made public (e.g., on these forums) or disclosed to an independent trusted party who can act as a registrar. E.g., EBANK might privately keep a copy of the details of the trust that X sets up, and if some pilot claims to be a Beneficiary who is not getting paid properly by BIG, this could be checked, independent of both that claimant and the Trustee.
Allow a Trust's Settlor to be amongst its Beneficiaries
As in real life, a Settlor could be a Beneficiary for the same trust. (In real life, for practical/tax reasons, a Settlor is rarely the sole Beneficiary of a Trust that he or she capitalizes, but being one of the Beneficiaries is not unusual.)
There is no reason that Trusts in New Eden must be like those in real life, but this is an opportunity to expand the Trust Administration business is a way that is helpful to a new class of Pilots: active.
Make BIG's default role solely that of a Trust Administrator
As currently described, BIG as Trustee looks in some ways like a Beneficiary with a 20% share.
The essential core of BIG's offering seems to be Trust Administration services, so why not just set a Trust Administration Fee of 20% of the net monthly proceeds (or whatever rate with a flat floor)?
If a Settlor wants to, he or she might also name BIG amongst a Trust's beneficiaries.
Remove the activity requirement for Beneficiaries
Originally by: TornSoul
If someone unsubs for a several months without letting us know, they do run the risk of being declared as having abandoned their share. [...] It's hard to set up a hard rule for this.
It is easy to draft such a rule; what is hard is to justify a need for such a rule.
There should be no hardship in paying ISK into the wallets of inactive Pilots, so long as the Trust Administration fee is fair. If 20% isn't enough to cover this effort, make it more.
Pilots have been flying around New Eden for years. Why make it harder to take a sabbatical?
Require unanimous agreement of Beneficiaries to liquidate capital assets
Generally, the Beneficiaries should exercise any discretion in the wind up of a Trust, not the Trustee. They should be able to claim for themselves the assets.
If a Settlor wants to prevent this, he or she could make him- or herself (or BIG) one of the Beneficiaries, forestalling unanimity.
á
á
|
Msgerbs
Gallente
Imperial Assualt Guild
Raikiri Assasins
|
Posted - 2009.08.09 14:43:00 -
[33]
Originally by: TornSoul
Originally by: Elenos
I still don't see how the idea offers anything to people. Once you have left the game you have empowered a 3rd party to look after your stuff and continue to produce from it and distribute the profits to a beneficiary.
Explain to me how other than trusting the OP, the beneficiaries stand to gain anything from this ?
<snip>
If you had unconditional trust to the third party then it makes sense.
Please read about how this whole thing came about in the first place.
It wasn't my idea, but that of a Settlor who came to me.
So... Trust was there from the outset.
If you don't have that trust, the BTF is not for you - Simple as that.
There's really not much else I can add to put your worries at bay I'm afraid.
Neither of you is reading/comprehending very well.
Elenos seems to somehow think the beneficiaries aren't going to benefit from producing BPOs. (Huh?)
And Tornsoul missed the bit where he said "AND I AM NOT SLATING BIG" or something to that effect.
Come to think of I see quite a few people in here not reading.
Now then, gripes about not reading aside, why can't you give back BPOs? You say "because you cannot be certain it's the same person". Well, as someone else pointed out, you could use a password or PIN to withdraw it. Also, you have no gripes about sending money to a person whose identity is not verified.
I'm afraid this simply doesn't make sense. You're afraid that the Trustor will be hacked and ask for his stuff? What about the beneficiaries? Why can't they be hacked? It's like double standards here just to be able to keep the BPOs. I see very few people investing in something knowing that if they ever come back, they can't get their stuff back.
"Isn't the Eiffel Tower an early prototype of a Minmatar Battleship?" --Illectroculus Defined |
Caleb Ayrania
Gallente
TarNec
New Eden Retail Federation
|
Posted - 2009.08.10 11:41:00 -
[34]
Nice meta value in this project imo.. GJ Tornsoul..
btw drop in on the lounge coffee and waffles on me..
Tycoon wannabe go here: SCC Lounge
Got Game? Peak a boo... |
TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.10.28 22:14:00 -
[35]
The BTF is still active.
(And I just reset the 90 day lock timer )
BIG Lottery |
Dumb Jerk
|
Posted - 2009.10.30 19:40:00 -
[36]
So who is Mr.X?
BIG's Titan Lottery SCAM: Don't Get Fooled. Demand your money back. |
TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.12.11 06:10:00 -
[37]
Time to beat the clock.
Factoid : BTF has so far paid out over 30 billion ISK.
BIG Lottery |
Katiana Swan
|
Posted - 2009.12.11 14:35:00 -
[38]
Edited by: Katiana Swan on 11/12/2009 14:35:44
With a single exception, I think this is a really good plan.
Originally by: TornSoul
Roughly quarterly I will check if people are still around, or if I'm simply wasting time and ISK, wiring their share into a black hole.
I very much disagree with this statement. As trustee you should have no right to decide whether or not you are "wasting time and ISK", it's not your ISK to waste. It sounds like an elaborate plan to gather a large pile of t2 bpos and slowly take ownership of them as the trustees wither off or fail to advise they are active within reasonable timeframes.
Of further concern is that these reasonable timeframes haven't actually been determined. You have only just advised in your most recent post that the 90 day timer has been reset. However how much notice do you give to the trustee when checking they are active? Do you send them an evemail after 83 days and then take ownership of the bpo 7 days later? I think if you must go down this path there needs to be a very clear statement and guideline followed by the book to dictate precisely when notices will occur.
If this path has to be taken I would recommend contacting the trustee once per month with a generic email (you would have 3 templates) advising of timeframe for contact remaining. The player can respond at any of these 3 points thereby resetting their 90 day timeframe from the time of their response.
Personally I would strongly recommend against this completely though. You are making money every month off an asset that you haven't purchased (20%). Your comment I quoted above saying you are wasting "time" (you are making 20% income off a free asset) and "ISK" (same as above, you didn't pay for that asset, after manufacture costs you are taking 20% of Net profit) is quite concerning.
As a Settlor can I specify a condition stating that under no condition is the trustee payment to be terminated? If so, will it be honored by the BTF?
|
Wyehr
Rage of Inferno
|
Posted - 2009.12.11 14:50:00 -
[39]
Originally by: Katiana Swan
Of further concern is that these reasonable timeframes haven't actually been determined. You have only just advised in your most recent post that the 90 day timer has been reset. However how much notice do you give to the trustee when checking they are active? Do you send them an evemail after 83 days and then take ownership of the bpo 7 days later? I think if you must go down this path there needs to be a very clear statement and guideline followed by the book to dictate precisely when notices will occur.
FYI, the forum automatically locks threads that have gone inactive for 90 days. By posting in them, one can "reset" the "90 day timer".
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.12.13 21:54:00 -
[40]
Edited by: TornSoul on 13/12/2009 21:55:26
Originally by: Katiana Swan
it's not your ISK to waste.
Correct.
Quite the contrary - It's my duty *not* to waste the ISK.
The goal is to take ISK that would else wise be wasted (by pouring it into a dead account) and distribute it to the other beneficiaries instead.
If *I* was a Donator that's what I would wan't to see happening.
Giving friend A and B the ISK from friend C should friend C no longer need it (quit the game)
--
The timelimit:
As pointed out above, my reference to the 90 day timelimit in my previous posts was with regards to the forum time limit of when threads get's locked.
I must certainly don't expect all the beneficiaries to keep a close eye on this thread
BIG Lottery |
Katiana Swan
|
Posted - 2009.12.14 01:29:00 -
[41]
Ok understood, I will leave it at that.
However could you just answer this question?
Quote:
"As a Settlor can I specify a condition stating that under no condition is the trustee payment to be terminated? If so, will it be honored by the BTF?"
|
Thoraemond
Minmatar
Far Ranger
|
Posted - 2009.12.14 03:00:00 -
[42]
It is nice to see that this initiative is ongoing. I remain interested in any response to the improvements I suggested above.
Originally by: TornSoul
The goal is to take ISK that would else wise be wasted (by pouring it into a dead account) and distribute it to the other beneficiaries instead.
If *I* was a Donator that's what I would wan't to see happening.
Giving friend A and B the ISK from friend C should friend C no longer need it (quit the game)
You've described a sensible policy (if C leaves, then the proceeds flow to A and B), and you've pointed out that you would choose such a policy. Perhaps the issue is that such a policy is not the only possible sensible policy.
If I understand correctly, you'd say that 'waste' includes making payments to currently-inactive accounts after after they've been inactive for a certain period, whereas others recognize that currently-inactive accounts might become active again, and so they don't see those payments as necessarily being 'waste'. (To the extent that it's possible to determine that a Pilot has been biomassed, or that a permanent ban has been imposed, that's a different matter, of course.)
It makes sense for someone to say 'I've flown around New Eden for four years, but now I'm going to do something else for a couple of years, and I look forward to having a big accumulation of trust proceeds sitting in my wallet when I return... I'm simply going to let my account lapse, not check my EVE-specific email account, and I'm not going to log in for a long time.'
It also seems quite plausible that people might drift away for a while, perhaps a long while, without putting their affairs in order before they do so. Not everyone's as organized as you!
Allowing each Settlor to determine the relevant policy for his or her own Trust would make the BTF appealing to a larger number of potential clients, in a larger range of circumstances.
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