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Tuesday, August 5, 2014

Simplify

King Fear now wants to simplify.  One way would be to put all his land trust real estate either into his new Living Trust by naming the Trust the beneficiary instead of himself, or instead naming the Living Trust as successor beneficiary.

In his Living Trust, he can prevent his successor (after-death) trustees from giving any of the Trust assets to Goneril or Regan.  Right now, his loving daughter Delia and his friend Duke Loyal are named as successor trustees to his Living Trust and also as successor beneficiaries on all of his many land trusts.

Fear can meet his goal of keeping the real estate from benefiting his evil daughters Goneril and Regan by means of his Living Trust, without changing the Will that has convinced them that they will inherit everything he has when he dies. 

Plus, if his Living Trust will end up controlling almost all his assets after his death, it will be simpler while he's alive to keep track of exactly who will end up with how much and to change the beneficiaries if he wants.

You see, one of Fear's shortcomings is impulsiveness.  He long remembers his grudges against people, but he also constantly tests those he trusts. 

So if after his next test, he decides to cut Delia's share of his assets down and give some to his grandson, Edmund, he only has to amend his Living Trust, not change dozens of land trusts.

For a Living Trust tailored to your situation and wishes for the future, call our office at (815) 436-1996 for an appointment. © 2014 Gruber Law Office, Ltd.


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