Tuesday, August 19, 2014

Appreciation Gifts

For all King Fear's anger at two of his daughters, Goneril  and Regan, who were behind the intentional blinding of his best friend, Duke Loyal, Fear realizes he has reason to be thankful.  His other daughter, Delia, and Loyal continue to stand by him, even though they know his Will leaves all to Goneril and Regan.

Fear knows Delia and Loyal's love for him is true, because they don't even know about his secret plan to leave them everything.  He's thankful they've passed the test he set for them, but he doesn't want him to know about the plan yet. 

So he plans to give each of them special birthday gifts this year to show his appreciation and deep love without tipping them off about his plan.  But, as you may remember, Fear has now divested himself of formal title to nearly all his assets.  On the other hand, he is not poor in any way.  He has the beneficial interest in numerous valuable land trusts that he can sell off or give away anytime.

Plus, all of the assets he has put into his living trust also remain his to sell, give away or use as he pleases.  He can do anything with the trust assets that he could have done before he created the trust, except now he act and signs "as trustee" instead of as King Fear.

Therefore, Delia will think she and Loyal have received a unique Faberge egg from Fear, but they will actually be receiving them from King Fear's Living Trust.  

It makes no difference to them now.  But it will make a world of difference after King Fear dies, and the rest of the things in his Trust go to Delia and Loyal rather than Delia’s two nasty sisters. 

To set up a well-thought plan that is simpler or even more complex than King Fear’s, please call our office to schedule an estate planning consultation. 

©2014 Gruber Law Office, Ltd.

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