more, I flew like Peter Pan over London, last week, living the magic
at Walt Disneys Magic Kingdom in Orlando, and this time I
watched my niece skip through Cinderellas castle like in a
dream, saying in her shrill Canadian accent: I cant
believe we are actually here!
many years had passed since my first stroller rental there, but
this time I saw an estate, an empire that had grown and reinvented
itself like none other.
Walt died in 1966, his dream didnt die with him. It continued
to grow into a multi-billion-dollar movie, vacation, clothing and
media corporation, with significant family participation.
plaque at the entrance reads, Here you leave today and enter
the world of yesterday, tomorrow and fantasy.
may well be the essence of estate creation and transfer and it is
serious business. The transfer of assets from an estate is a legal
procedure in which an executor is selected to oversee the distribution,
if there is a will.
is one of the critical decisions that the person making the will
must make. Many people underestimate the amount of work the executor
has to do and too many people appoint executors who are either unwilling
or unable to do the work of assembling the assets of the estate
in document form.
had appointed his wife Lillian, H Sturdy and United California Bank
as co-executors of his will. His also left provision for the resignation
of the individuals named so the institution could handle or help
with the work of assembling the entire estate.
his will he set up two significant trusts: the Disney Family Trust
and a Charitable Trust.
the Family Trust he provided for unborn grandchildren as well, mostly
in the form of an income, in consideration of any other income his
heirs may legally possess.
set up two charities: the Disney Foundation and the California Institute
of Arts. Millions of dollars have passed through these trusts to
assist the poor and the sick.
is only through the medium of a will that individuals can ensure,
in law, that the assets of estate they leave behind will be used
for charitable purposes. If you die without a will, you will have
to hope your heirs will use some of what you leave behind to help
others. This is one of the distinct advantages of making a will.
of the other benefits is you get is to select an appropriate executor.
If you have a large empire, or if ownership of your assets is complicated,
you may need a corporate executor such as a bank. Remember, that
will cost you in the long run, even though the bank or institution
may charge you nothing upfront.
can simplify the work of the executor by keeping your asset titles
in good order and keeping a list in an appropriate file so necessary
documents can be easily located. Please do not leave your heirs
to dig up every room in the house to find your documents. For that
matter, they should not have to turn the house upside down to find
the will in he first place.
your estate is a celebration of your lifes work, which it
should be, wouldnt it be nice to leave a will that is s symbol
of your yesterday, your tomorrow, even your fantasy?