We want to control during our life to the extent possible. Surviving spouse has control.

Treat our kids transparently and like adults.

We prefer investment over consumption; however, we don't view the trusts as having only to grow and perpetuate. We are fine if circumstances warrant that the trusts decline or disappear over the children's lifetimes. In general, we would be more aggressive in winding down the taxable trusts during their lifetimes; the exempt trusts could be considered a longer-term and potentially perpetual asset. Although we empower the leadership to do the right thing, we would view the MD Foundation in that light.

We prefer monthly salaries that grow over time over lump payments (although we understand the need for some lump distributions).

Context: what is reasonable for a $1M estate isn't the same as $100M estate.

We generally believe in "enough to do anything, but not enough to do nothing". We have a broad definition of doing education, service jobs such as teaching, etc. We support distributions for basics and special events.

• Health and medical coverage
• Insurance
• Education
• Family get-togethers: weddings, holidays, family vacations, funerals, graduations, etc. (This includes a +1 provision for spouses)
• Safety (including late night Ubers, etc)
• Communication (phone, phone plans)
• Housing reimbursement of $6k per quarter. Includes +1 for spouses. Starting Q2, 2024
• Taxes and fees from money managers, wealth advisors, etc.

Special Events (capped and within reason – again with context)

• Weddings, funerals, and other rights of passage events
• Education and self-improvement
• Vacations, travel, and sabbaticals

• Obnoxious displays of wealth
• Laziness
• Out-of-proportion risk (e.g. betting a meaningful part of the estate on any one venture or project)

We view the family foundation as the main source of charitable giving (with the three kids having meaningful roles).

Encourage kids to use professional investment advisors such as JP Morgan and Schwab to invest assets.

Encourage prudent diversification of total assets. We view diversification to include cash, crypto, real estate, art, Venture Investments, and other alternatives.

Encourage kids to think thoughtfully about their own wealth philosophy and estate planning.