Family Trust & Legal

🏗️ All Trusts Created After Carlos's Passing

⚡ Investment Committee & Key Roles

INVESTMENT COMMITTEE (controls ALL trust investment decisions)

👔 DAVID CUETOS — Chair & Primary Decision-Maker

👔 RAKESH RAJWANI — Co-Member

Additional members may be appointed by Cuetos and Rajwani jointly. The Investment Committee determines ALL investment policy and strategy for every trust, following professional guidance on income-generating and growth-oriented strategies.

Role	Person	Scope
Successor Trustee (Revocable Trust)	David Cuetos	Manages CBS Revocable Trust after Carlos's death
Backup Successor Trustee	Rakesh Rajwani	Steps in if David cannot serve
Trust Protector (All Irrevocable Trusts)	David Cuetos (via Blanco TP LLC)	Oversight, can remove/appoint trustees, modify terms
Institutional Trustee (Irrevocable)	Bridgeford Trust Company LLC (South Dakota)	Administration, custody, compliance for Security + Legacy Trusts
Investment Advisor	Blanco TA LLC (David Cuetos + Rakesh Rajwani)	Directs Bridgeford on all investments
Distribution Advisor	Blanco TA LLC	Directs Bridgeford on distributions
Guardian (Children)	Ana Blanco Sanchez (sister)	Physical custody and care of Carlos Jr. & Sebastian

⚠️ IMPORTANT: Ana Blanco Sanchez is the children's guardian (physical care) — but she is NOT on the Investment Committee and does NOT control trust money by herself. All financial decisions go through David Cuetos and Rakesh Rajwani.

📐 What Happens Immediately Upon Carlos's Death

CBS REVOCABLE TRUST

Currently: Carlos is Trustee & has full control

Upon death → David Cuetos becomes Trustee

⬇️

IMMEDIATE ACTIONS

1. Pay last expenses, income taxes, estate administration
2. Relocate children to U.S. immediately (if not already there)
3. Grand Bay + Mariner Drive → rent out, DO NOT SELL
4. Contact Alcor for cryonics procedures

⬇️

DISTRIBUTION FROM REVOCABLE TRUST

Trust estate splits into the following:

⬇️⬇️⬇️

1️⃣ SPECIFIC BEQUESTS

$1-2M → Ana Blanco Sanchez (sister, if she survives)

$1-2M → Regina Alvarez Bringas (only if divorced at time of death; reduced by divorce settlement amounts)

Tangible Personal Property → by memorandum, otherwise to children (watches, art, wine via CBS TP LLC)

2️⃣ TRUST FOR REGINA

ONLY if still married at death

Trustee: David Cuetos
Beneficiary: Regina
Terms: Income to Regina; principal for HEMS
Terminates: On Regina's death → assets to Carlos Jr. & Sebastian equally

3️⃣ CBS LEGACY TRUST II

New irrevocable trust created upon death

Amount: Lesser of $5M or remaining GST tax exemption
Trustee: Bridgeford Trust Co.
Protector: Blanco TP LLC (David Cuetos)
Beneficiaries: Carlos's descendants

4️⃣ CBS SECURITY TRUST II

Additional GST exemption allocation

Amount: Any remaining GST tax exemption after Legacy Trust II
Trustee: Bridgeford Trust Co.
Protector: Blanco TP LLC
Beneficiaries: Carlos's descendants

5️⃣ CHILDREN'S TRUST

THE BIG ONE — Remaining balance of estate

Trustee: David Cuetos
Backup: Rakesh Rajwani
Beneficiaries: Carlos Jr. & Sebastian
Standard: HEMS (Health, Education, Maintenance, Support)
Investment Committee: David Cuetos + Rakesh Rajwani

6️⃣ REVIVAL TRUST

Cryonics & Asset Preservation

Purpose: Fund Alcor cryogenics + preserve assets for Carlos's revival
Trustee: Bridgeford Trust Co.
Protector: Blanco TP LLC
If Carlos revives: Trust may terminate and distribute to him outright

Already-Existing Irrevocable Trusts (Continue After Death)

CBS 2021 SECURITY TRUST

Already irrevocable — continues unchanged · Dated Dec 8, 2021

Assets: ~$62.3M Life Insurance + investments

Protective #B01130915	$30,000,000	20-Yr Term
MassMutual #22592172	$1,418,257	WL 20-Pay, CV $115K
MassMutual #22684072	$1,373,455	WL 20-Pay, CV $83K
Prudential #L9734926	TBD	Term

JH IUL ($23.5M) owned by CBS LLC, not this trust · JH $6M Term owner TBD
Trustee: Bridgeford Trust Co. · Officer: Danielle Keeton
Protector: Blanco TP LLC (David Cuetos)
Advisors: Blanco TA LLC (Cuetos + Rajwani)
Beneficiaries: Carlos's descendants ONLY (not Carlos)
After death: Becomes Single Trust for Children & Descendants
At age 30: 3-5% unitrust distributions begin

CBS LEGACY TRUST II

Already irrevocable — replaced original CBS Legacy Trust

Assets: RAJR 2021 LLC (100%), 20% of operating companies:

BA 0208 LLC	20%	(20 of 100 units)
ESP STE SF LLC	20%	(20 of 100 units)
CBSB 0208 LLC	20%	(20 of 100 units)
AROA ESP0208 LLC	20%	(20 of 100 units)

Verified from 51 Operating Agreements analyzed Apr 2, 2026
Trustee: Bridgeford Trust Co. · Officer: Danielle Keeton
Protector: Blanco TP LLC (David Cuetos)
Advisors: Blanco TA LLC (Cuetos + Rajwani)
Beneficiaries: Carlos AND descendants
After death: Becomes Single Trust for Children & Descendants

📊 Complete Trust Map After Passing

#	Trust	Type	Trustee	Beneficiaries	Key Feature
1	Children's Trust	From Revocable	David Cuetos	Carlos Jr. + Sebastian	Main estate balance, HEMS standard
2	CBS 2021 Security Trust	Irrevocable (existing)	Bridgeford	Descendants only	~$62.3M life insurance (Protective $30M, JH $23.5M, MM $2.8M, Pru TBD), 3-5% unitrust at 30
3	CBS Legacy Trust II	Irrevocable (existing, replaced Legacy I)	Bridgeford	Descendants	RAJR 2021 LLC, 20% of 4 operating cos (BA 0208, ESP STE SF, CBSB 0208, AROA ESP0208)
4	CBS Legacy Trust II	New Irrevocable	Bridgeford	Descendants	Up to $5M or GST exemption
5	CBS Security Trust II	New Irrevocable	Bridgeford	Descendants	Additional GST exemption
6	Revival Trust	New from Revocable	Bridgeford	Carlos + Descendants	Cryonics funding, asset preservation
*	Trust for Regina	Conditional	David Cuetos	Regina	Only if still married; terminates to kids on her death

💰 How Carlos Jr. & Sebastian Access the Money

👶 Before Age 21 — Children's Trust (Article 8)

WHO CONTROLS IT: David Cuetos (Trustee), advised by Investment Committee (Cuetos + Rajwani)

Standard: HEMS — Health, Education, Maintenance, Support in accustomed manner of living
Trustee (David Cuetos) has full discretion on amounts and timing
Can give unequal distributions based on each child's needs, age, health, education, aptitude
Guardian (Ana Blanco Sanchez) handles day-to-day care — trust pays all expenses
No court reporting — only the Trust Protector (David Cuetos) receives accountings, not the children or anyone else

WHAT'S COVERED:

Day-to-day living expenses
Tuition and boarding fees (U.S. boarding school or day school)
Medical insurance
Extracurricular activities
All costs of raising them in the United States

AGE 21 Trust Division

When the youngest living child turns 21, the Children's Trust divides into Separate Trusts — one for each descendant (Article 9).

Carlos Jr.'s Separate Trust

His share of the Children's Trust

Sebastian's Separate Trust

His share of the Children's Trust

AGE 21-29 Separate Trust Period

Standard: HEMS + additional for any purpose (via Independent Trustee's discretion)
Who decides: David Cuetos as Trustee (backup: Rakesh Rajwani)
Income accumulates if not distributed (added to principal annually)
The children do NOT have direct access — they must request through the Trustee

AGE 25 Co-Trustee Eligibility — THE EARNINGS TEST

⚠️ CRITICAL CONDITION — Must Be Self-Sufficient First

A descendant can become co-Trustee of their own Separate Trust at age 25 IF AND ONLY IF:

"The descendant is currently earning income (excluding trust distributions) that is above the U.S. national average for their age, based on their profession, as established by three (3) accredited salary benchmarking institutions selected by the Trust Protector."

Translation: The kids must have real jobs earning above-average income BEFORE they get any control. This incentivizes financial independence.

AGE 30 Unitrust Distributions Begin — GUARANTEED ANNUAL INCOME

Period	Age	Distribution	How It's Calculated
Years 1-3	30-32	4% of trust NAV	4% × beginning-of-year net asset value, paid quarterly
Year 4+	33+	4% of 3-year rolling avg	4% × average of prior 3 years' NAV (smooths volatility)

💡 EXAMPLE: If a Separate Trust holds $20M at age 30:

Year 1: $800,000/year (4% × $20M), paid quarterly ($200K/quarter)
Year 4+: 4% of 3-year average NAV — if trust grows to $25M avg, that's $1M/year

Additional distributions above the 4% unitrust remain at the Independent Trustee's discretion.

Same 3-5% unitrust applies to the CBS 2021 Security Trust — so the children may receive unitrust from MULTIPLE trusts simultaneously at age 30.

💀 If a Child Dies Before Full Distribution

General Power of Appointment: The deceased child can direct (by will) where assets go — but ONLY to Carlos's descendants
Default (no will): Assets pass to the deceased child's own descendants (per stirpes)
If no descendants: To nearest Carlos descendant line, per stirpes
If NO descendants of Carlos survive: To heirs-at-law under Florida intestacy

🔐 Protected Real Estate — DO NOT SELL

Property	Address	Instructions
🔒 Grand Bay Condo	445 Grand Bay Drive, Apt 308	Rent out at FMV → service mortgage → surplus to Children's Trust
🔒 Mariner Drive Home	1020 Mariner Drive, Key Biscayne	Rent out at FMV → service mortgage → surplus to Children's Trust

Sale requires UNANIMOUS Investment Committee approval (David Cuetos + Rakesh Rajwani both must agree).

📅 Timeline: Carlos Jr. (born Feb 6, 2019)

Year	Age	Milestone
2019-2040	0-21	Children's Trust pays all expenses via Trustee (David Cuetos)
2040	21	Children's Trust divides → Carlos Jr. gets his Separate Trust
2044	25	CAN become co-Trustee IF earning above national average (earnings test)
2049	30	4% unitrust distributions begin ($800K/yr on $20M)
2052+	33+	4% of 3-year rolling average NAV (permanent income stream)

📅 Timeline: Sebastian (born Aug 30, 2022)

Year	Age	Milestone
2022-2043	0-21	Children's Trust pays all expenses (trust divides when Sebastian turns 21)
2043	21	Trust divides → Sebastian gets his Separate Trust
2047	25	CAN become co-Trustee IF passing the earnings test
2052	30	4% unitrust distributions begin
2055+	33+	4% of 3-year rolling average NAV

Note: The Children's Trust stays UNIFIED until Sebastian turns 21 (2043). Only then does it split into separate trusts for each child.

📜 Last Wishes — Carlos Blanco Sanchez

Notarized Letter of Wishes — Miami-Dade County, December 30, 2026 | Notary: Kaylee Leon (FL Commission HH 291156, expires Jul 14, 2026)

👶 Children

Child	Date of Birth
Carlos Blanco Álvarez	February 6, 2019
Sebastian Blanco Álvarez	August 30, 2022

Plus any other children who are minors at time of death.

🚫 Directive 1: ABSOLUTE Prohibition — Mexico

Under NO circumstances are the children to be taken to Mexico — neither temporarily nor permanently.

If Carlos dies before his former wife, she is explicitly directed NOT to remove the children from the United States
Any court with jurisdiction is requested to give the strongest possible weight to this restriction
This applies to guardianship AND custody determinations

🏠 Directive 2: Guardianship

Role	Person	Address
Primary Guardian	Ana Blanco Sanchez (sister)	1020 Mariner Drive, Key Biscayne, FL 33149
Successor Guardian	TBD (to be designated)

🇺🇸 Directive 3: Permanent U.S. Residence & Education

Immediately relocate to the United States (if not already there)
Enroll in a reputable U.S. boarding school or day school
Remain in the U.S. until age of majority or completion of higher education
Living arrangements must be appropriate and supervised

💵 Directive 4: Financial Support

All costs paid exclusively from the Children's Trust:

Day-to-day living expenses
Tuition and boarding fees
Medical insurance
Extracurricular activities
All other costs of raising them in the United States

🏢 Directive 5: Protected Real Estate

DO NOT SELL unless Investment Committee unanimously agrees:

Property	Address	Action
🔒 Grand Bay Condo	445 Grand Bay Drive, Apt 308	Rent → service mortgage → surplus to Children's Trust
🔒 Mariner Drive Home	1020 Mariner Drive, Key Biscayne	Rent → service mortgage → surplus to Children's Trust

👔 Investment Committee

DAVID CUETOS — Chair & Primary Decision-Maker

RAKESH RAJWANI — Co-Member

Additional members may be appointed by Cuetos and Rajwani jointly.

✍️ Witnesses & Notarization

Role	Name
Witness	Manuel Das Carrancas Brida
Notary	Kaylee Leon (FL Commission HH 291156)
Notary Expiration	July 14, 2026

⚠️ The notary commission expires July 14, 2026. Consider re-notarizing before that date if any updates are needed.

📋 Blanco Family Protocol — Investment Philosophy & Wealth Management

A living document that captures how the Blanco family manages wealth, makes investment decisions, and stays informed. This protocol is designed to guide trustees, advisors, and family members — both during Carlos's lifetime and after.

🎯 Core Principle: Wealth Preservation Through Income

"Never sell the goose that lays the golden eggs."

Wealth is preserved and grown through income generation, not speculation or constant trading. This manifests in three distinct pillars, each managed by a different team with a clear mandate.

📊 Pillar 1: Dividend Growth — The Bahnsen Group

Advisor: David Bahnsen / The Bahnsen Group

Mandate: Build a portfolio of high-quality, dividend-paying companies that grow distributions over time. Reliable, growing income that compounds without selling shares.

Philosophy

Own businesses, not stock tickers
Dividends = purest signal of corporate health
Growing dividend stream protects against inflation
Never chase yield — chase dividend growth
Reinvest during accumulation; live on dividends in distribution

Current Portfolio (38 Holdings):

BX, JPM, MS, MC, OWL, TFC, AMGN, GILD, JNJ, MRK, UNH, AVGO, CSCO, GOOGL, IBM, TXN, CVX, XOM, UMI, CLX, GIS, KVUE, MCD, MO, PEP, PG, SBUX, WMT, AEP, VZ, LAMR, LINE, SPG, VICI, CMI, LMT, UPS, BIPC

Monitor: Dividend growth rate (7-10% target), payout ratio (<65%), FCF yield, consecutive dividend increases

📈 Pillar 2: Quality Growth — Loring, Wolcott & Coolidge (LWC)

Advisor: Loring, Wolcott & Coolidge (est. 1926, $19B AUM)

Mandate: Long-term capital appreciation through quality companies with durable competitive advantages.

Philosophy

Partner-based firm — fiduciary alignment
Quality companies with pricing power
Low turnover, long holding periods
Growth through earnings, not multiple expansion

Current Portfolio (26 Holdings):

AAPL, ADBE, AMZN, AVGO, CRM, GOOG, LLY, MA, META, MSFT, NOW, NVDA, BRK.B, JPM, MCO, SPGI, V, ABT, DHR, ISRG, TMO, UNH, ACN, DE, HON, NEE

⛏️ Pillar 3: Hard Assets & Resources — Katusa Research

Advisor: Marin Katusa / Katusa Research

Mandate: Tactical positions in gold, uranium, copper, energy — "follow the smart money" in resource markets.

Philosophy

Commodities are cyclical — buy when hated, sell when loved
Management matters more than the deposit
Position sizing: 1-5% per name, no single bet kills the portfolio
Always have a "free carry" — recover cost basis early

Current Portfolio (10 Holdings):

CCJ, NXE, UEC, EU, AEM, WPM, RGLD, NEM, COPX, FCX

🥇 The Free Ride Rule

Core tactical principle: When a position doubles (100% gain), sell half to recover the original investment. The remaining shares are a "free ride" — pure profit with zero risk to principal. This applies across ALL portfolios, especially in volatile resource and speculative positions.

📰 Information Sources for Trustees

Source	Frequency	Focus
The Bahnsen Group — Dividend Cafe	Daily	Dividend philosophy, market commentary
Mauldin Economics — TFTF	Weekly (Sat)	Macro economics, global trends
Katusa Research	Monthly	Resources, commodities, mining
Seeking Alpha Quant Alerts	As triggered	Quantitative rating changes on holdings
Rational Optimist Society	Weekly	Innovation, nuclear, AI, emerging tech
Mauldin — Clips That Matter	Tue/Wed	Charts, macro data, key trends

🎯 Tactical Rules for Trustees

Income first: Every portfolio should generate income (dividends, interest, premiums)
Don't sell winners: Let compounders compound — only trim for rebalancing
Rebalance annually: Drift tolerance ±5% per sector
Cash buffer: Always maintain 6-12 months of distributions in cash/T-bills
No leverage in irrevocable trusts: Margin is for Carlos's personal accounts only
Tax-loss harvest: Opportunistically in taxable accounts
Review quarterly: Investment Committee reviews all portfolios quarterly

🏛️ Original Trust Diagrams (Stadig Johnson, July 2024)

📋 Trust Architecture — Original Diagrams from Estate Attorney

These are the original planning flowcharts from Stadig Johnson (Wealth Transfer Planning, Trusts and Estates). They show the proposed trust structure as designed in July 2024.

📄 Legal Documents, Will & Last Wishes

⚠️ Key Documents — These are the most important files for the family

📄

Letter of Wishes

Notarized — Non-binding guidance for asset distribution, children directives

📜

01 — Certificate of Revocable Trust

Proof the trust exists (for banks, title companies)

📜

02 — CBS Revocable Trust Restatement

Full trust agreement as restated (46+ pages)

📜