Marisol Cruz Irrevocable Trust for the Benefit of Ezra Rafael Cruz¶
Distribution Schedule and Asset Summary¶
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Prepared by: Ortega Financial Advisory Group, LLC Prepared for: Marisol Cruz, Trustee Date of Report: June 15, 2024 Report Purpose: Pre-distribution summary in advance of Beneficiary’s eighteenth (18th) birthday (July 29, 2024)
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Trust Overview¶
| Field | Detail | |—|—| | Trust Name | Marisol Cruz Irrevocable Trust for the Benefit of Ezra Rafael Cruz | | Date Established | September 14, 2012 | | Governing Law | State of Florida | | Trustee | Marisol Cruz | | Co-Trustee | Rafael Antonio Cruz (deceased 2022) | | Beneficiary | Ezra Rafael Cruz (DOB: July 29, 2006) | | Trust Attorney | Adriana M. Vega, Esq. | | Financial Advisor | Ortega Financial Advisory Group, LLC |
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Cumulative Deposit History¶
Earnings by Source and Year¶
| Year | Age | Modeling (Net) | Digital/YouTube (Net) | Other | Annual Total |
|---|---|---|---|---|---|
| 2012 (Sep–Dec) | 6 | $12,400 | — | — | $12,400 |
| 2013 | 7 | $15,200 | — | — | $15,200 |
| 2014 | 8 | $17,800 | — | — | $17,800 |
| 2015 | 9 | $20,400 | — | — | $20,400 |
| 2016 | 10 | $24,600 | — | — | $24,600 |
| 2017 | 11 | $28,300 | — | — | $28,300 |
| 2018 | 12 | $31,500 | — | — | $31,500 |
| 2019 | 13 | $34,800 | — | — | $34,800 |
| 2020 | 14 | $44,200 | $3,400 | — | $47,600 |
| 2021 | 15 | $54,600 | $12,800 | — | $67,400 |
| 2022 | 16 | $63,500 | $25,200 | — | $88,700 |
| 2023 | 17 | $74,100 | $41,600 | — | $115,700 |
| 2024 (Jan–Jun) | 17 | $38,900 | $24,300 | — | $63,200 |
| Total Deposits: | $567,600 |
Note: All figures represent net earnings after deduction of agency commissions (20%), applicable withholding taxes, and permitted professional development expenses disbursed under Article V of the Trust Agreement. Digital/YouTube earnings include AdSense revenue, brand sponsorship fees, and platform bonuses.
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Investment Performance Summary¶
| Period | Strategy | Avg. Annual Return |
|---|---|---|
| 2012–2016 | Conservative (60% fixed income, 30% index equity, 10% cash) | 5.8% |
| 2016–2020 | Moderate-conservative (50% fixed income, 40% index equity, 10% cash) | 6.4% |
| 2020–2024 | Moderate (40% fixed income, 50% index equity, 10% cash) | 7.1% |
| Blended average (2012–2024) | 6.5% |
Investment allocation shifted from conservative to moderate as the Trust corpus grew and the distribution horizon shortened, consistent with the Trustee’s directive to prioritize capital preservation while achieving reasonable growth (Article IV, Section 4.02).
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Trust Valuation as of July 1, 2024¶
| Category | Amount | |—|—| | Total cumulative deposits (2012–2024) | $567,600 | | Cumulative investment gains (net of fees) | $164,300 | | Cumulative advisory and administrative fees paid | ($18,400) | | Cumulative tax obligations paid | ($22,800) | | Distributions during minority (Article V) | ($56,200) | | Current Trust Value | $734,500 |
Distributions During Minority (Article V Detail)¶
| Year | Purpose | Article V Section | Amount |
|---|---|---|---|
| 2013 | Professional headshots and portfolio | 5.01(a) | $1,200 |
| 2014 | Professional headshots (updated) | 5.01(a) | $800 |
| 2015 | Travel to commercial engagements (3 trips) | 5.01(a) | $2,400 |
| 2016 | Music lessons—trumpet instruction (annual) | 5.01(b) | $3,600 |
| 2017 | Music lessons—trumpet and guitar (annual) | 5.01(b) | $4,200 |
| 2017 | Professional wardrobe for agency bookings | 5.01(a) | $1,800 |
| 2018 | Music lessons and ensemble fees | 5.01(b) | $4,400 |
| 2018 | ADHD medication and therapy (insurance gap) | 5.01(c) | $2,800 |
| 2019 | Music lessons, instrument purchase (trumpet upgrade) | 5.01(b) | $5,600 |
| 2019 | ADHD-related therapy | 5.01(c) | $1,400 |
| 2020 | YouTube equipment (camera, microphone, editing software) | 5.01(a) | $2,200 |
| 2020 | Music instruction and summer program | 5.01(b) | $4,800 |
| 2021 | Agency registration renewal and portfolio update | 5.01(a) | $1,600 |
| 2021 | Music instruction and audition preparation | 5.01(b) | $3,800 |
| 2022 | Grief counseling (following death of Co-Trustee) | 5.01(c) | $3,200 |
| 2022 | Juilliard audition travel and preparation | 5.01(b) | $2,800 |
| 2023 | Juilliard pre-enrollment expenses | 5.01(b) | $4,600 |
| 2023 | ADHD medication and therapy | 5.01(c) | $1,800 |
| 2024 | Juilliard move-in and first-semester housing deposit | 5.01(b) | $3,200 |
| Total: | $56,200 |
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Projected Distribution Schedule¶
Per Article VI of the Trust Agreement, distributions shall be made as follows:
First Distribution—Age 18 (July 29, 2024)¶
| | | |—|—| | Trust value at distribution date (projected) | $734,500 | | Distribution percentage | 20% | | Distribution amount | $146,900 | | Remaining Trust balance | $587,600 |
Purpose: Post-secondary education, housing, and transition to independent living.
Second Distribution—Age 21 (July 29, 2027)¶
| | | |—|—| | Projected Trust value at distribution date | $710,400 | | Distribution percentage | 30% | | Projected distribution amount | $213,100 | | Projected remaining Trust balance | $497,300 |
Purpose: Professional development and early-career financial stability.
Projection assumes continued investment at blended 6.5% annual return, no additional deposits, and no extraordinary distributions.
Final Distribution—Age 25 (July 29, 2031)¶
| | | |—|—| | Projected Trust value at distribution date | $639,800 | | Distribution percentage | 100% (remaining balance) | | Projected distribution amount | $639,800 | | Remaining Trust balance | $0.00 |
Trust terminates upon final distribution per Article IX, Section 9.03(a).
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Cumulative Distribution Summary¶
| Distribution | Age | Date | Amount | |—|—|—|—| | First | 18 | July 29, 2024 | $146,900 | | Second (projected) | 21 | July 29, 2027 | $213,100 | | Final (projected) | 25 | July 29, 2031 | $639,800 | | Total distributions (projected) | | | $999,800 |
Total projected distributions represent approximately 176% of cumulative raw deposits ($567,600), reflecting twelve years of compound investment growth under prudent management.
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Trustee Notes¶
Re: Co-Trustee vacancy. Following the death of Co-Trustee Rafael Antonio Cruz in 2022, the Trustee has continued to serve as sole Trustee. Per Article III, Section 3.03, the designated Successor Trustee (Teresa Dominguez) remains available and willing to serve if needed. No action is required at this time.
Re: Beneficiary financial literacy. Per Article IV, Section 4.05, annual accountings have been provided to the Beneficiary since his sixteenth birthday (July 2022). The Beneficiary has reviewed the 2022 and 2023 accountings and has met with this office to discuss Trust investment strategy and the distribution schedule. The Beneficiary has expressed understanding of the staggered distribution structure and has not requested any modifications.
Re: Section 6.04 considerations. No conditions warranting delay of the First Distribution have been identified at this time. The Beneficiary is enrolled at the Juilliard School for fall 2024 and appears to be in good health and sound capacity. This assessment should be revisited prior to each subsequent distribution date.
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This report is confidential and intended solely for the use of the Trustee. Distribution to any party other than the Trustee, Successor Trustee, or Trust Attorney is prohibited without written authorization.
Ortega Financial Advisory Group, LLC 1200 Brickell Avenue, Suite 1450 Miami, FL 33131