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Tuesday, July 15, 2014

Acting In His Own Best Interest

King Fear has put his real estate into land trusts and the rest of his assets into his own Living Trust. He still has full control over all of the assets owned by his Living Trust, because he named himself trustee of the trust.  As trustee, he manages his assets and makes all decisions about them. 

Plus, he’s also the beneficiary under his Living Trust.  So as trustee, all of his decisions have to be, in his own judgment, in his own best interest.  This all sounds a lot like the power he had over his assets before he transferred them into his Living Trust, which is no coincidence.  That’s exactly what he intended when he created his Living Trust. 

He’s simply using his Living Trust to pass his assets after his death outside of probate court procedures and outside of what is written in his Will.  That way, he can continue to trick his vicious daughters, Goneril and Regan, into pampering and catering to him in order to remain in his Will. 

Of course, the only things he plans to have in his probate estate at his death to be given to the daughters named in his Will is a coal shed and his suitcases. The rest will go to his loving daughter and his good friend Duke Loyal under the terms of his Living Trust and his land trusts. 

Estate planning can help you make sure your money goes were you want it to go after your death, in whatever way you decide is fair.  For help creating your own estate plan, please call my office at (815)436-1996 for an appointment.

© 2014 Gruber Law Office, Ltd.


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