Page 90 - Too Much and Never Enough - Mary L. Trump

one of which was Sunnyside Towers. The express purpose of this apparently quasi-legal, if not outright fraudulent, transfer of wealth was to avoid paying the lion’s share of the gift taxes that would have been assessed if it had been an aboveboard transaction. I don’t know if Dad knew that he owned part of the building he now lived in, but in 1973 his share of it would have been worth about $380,000, or $2.2 million in today’s dollars. He seemed to have no apparent access to any of the money—his boats and planes were gone; his Mustang and Jaguar were gone. He still had his FCT vanity plates, but now they were attached to a beat-up Ford LTD. Whatever wealth my father had was by then entirely theoretical. Either his access to his trust funds had been blocked, or he had stopped thinking he had any right to his own money. Thwarted one way or the other, he was at his father’s mercy.
Dad and I were watching a Mets game on television when the intercom buzzed. Dad looked surprised and went to answer. I didn’t hear who was calling from the lobby, but I heard my father say “Shit” under his breath. We’d been having a laid-back afternoon, but Dad seemed tense now. “Donald’s coming up for a couple of minutes,” he told me.
“Why?”
“No idea.” He seemed annoyed, which was unusual for him.
Dad tucked his shirt in and opened the door as soon as the bell rang. He
took a couple of steps back to let his brother pass. Donald was wearing a three-piece suit and shiny shoes and carrying a thick manila envelope wrapped with several wide rubber bands. He walked into the living room. “Hi, Honeybunch,” he said when he saw me.
I waved at him.
Donald turned back to my dad and said, “Jesus, Freddy,” as he looked around disdainfully. My father let it slide. Donald tossed the envelope onto the coffee table and said, “Dad needs you to sign these and then bring them to Brooklyn.”
“Today?”
“Yeah. Why? You busy?”
“You take it to him.”
“I can’t. I’m on my way to the city to look at some properties that are in
foreclosure. It’s a fantastic time to take advantage of losers who bought at