The current Economic Strategist Irrevocable Spendthrift Trust started in the early 1950s. A Harvard law student by the name of Robert N. Benson, who was a protégé, studied and taught classes under Professor Austin Wakeman Scott. Mr. Scott was the author of the definitive law on Trusts book, titled “Scott on Trust Law”, this is required study, generally, in the curriculum of leading law schools and is the recognized authority of Trust Law in the United States. Mr. Benson became a partner in a prominent Wall Street law firm after graduation and worked with high net worth individuals to plan and protect their estates through Spendthrift Trusts.
During the late 1950s, Mr. Benson expanded his business to Texas where he practiced Bankruptcy, Trust, and Copyright Law. He developed a new type of Trust that would provide a large portion of society with an estate planning tool and would provide asset protection. The plan was to offer the Trust to everyone, not just wealthy clients. Eventually, this vision developed into the copyrighted Economic Strategist operational format.
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