Tag Archives: Bill Gore

Gore-Tex Heiress’ Adoption Of Ex-Husband Fails To Score More Stock

Anyone who likes to go hiking, biking or camping probably knows what Gore-Tex is.  The breathable, waterproof fabric made W.L. Gore and Associates into a huge success. The privately-held company hit #134 in Forbes’ most recent list of America’s largest private companies, with an estimated $3 billion in annual revenue.  Gore-Tex

Founder Bill Gore passed away in 1986 and his widow, Genevieve Gore, died on January 20, 2005.  The couple, way back in 1972, finalized a trust to pass most of their stock in the company onto the children, and ultimately their grandchildren.  They smartly planned ahead, realizing how valuable their Gore-Tex invention could become and how much growth their stock could achieve.  So they funded the trust through a holding company, early on, to minimize estate taxes.

Wanting to treat their heirs equally, the Gores set up five equal shares, for their five children.  They created a supplemental trust so that each of the grandchildren could receive an equal amount of stock as well.

The plan worked very well … Read more...

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