Ultimate Beneficiary? Lessons Learned From GoT
Hi there, Bridget Mackay here. I’m an estate planning and other law attorney in Petaluma and I have been doing some video blogs under the theme of Game of Thrones.
And I was inspired for these next two blogs by the subject matter in trusts that we deal with quite often or we ask every client when we’re doing their trust is, “Who is your ultimate beneficiary?” So, we also call it the nuclear option. If all of your family is gone, where are your assets going?
And I thought back to House Tyrell. For those of you who are Game of Thrones fans, you know that when Olenna Tyrell killed herself in the sacking of High Garden that, that was the last of her house. And I have to ask myself, “Olenna, did you have a plan of where things are going to go if all the Tyrell’s are gone?” In Game of Thrones it obviously goes back to the king and they’re going to appoint someone to take over High Garden. I think in this last episode it was Tyrion’s sidekick. Who knows if he’ll get that because, well that remains to be seen, right?
For all of you who have trusts or thinking about doing estate planning. Unfortunately, that’s a question you have to look at. If my whole bloodline is gone where are my assets going? Because if you don’t have that plan, then much like Game of Thrones, it’s going to revert back to the king or the state of California in our case.
Take a look at your plan or if you’re starting to plan, remember to make sure that your estate planning attorney is considering that and ask you that question. Always, always if you have any questions consult a practiced estate planning attorney with them.