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Whenever someone said my name Eric, I heard that.The speaker of the Elders rose and once more it became quiet. “The Challenge has been made and accepted and was concluded before the witness of all. Eric Olafson, son of Isegrim Olafson has and is by our laws and customs now the rightful owner of all that was Steiner. A clan now ceases to exist. So let it be recorded and so let it be done.”Uncle Hogun appeared next to me.” By Odin’s blind eye, where did you learn to fight like that? I take it back you were no fool.”“Yes Uncle Hogun I am. I killed Ardalf, his life is on my consciousness, had I kept my mouth shut at the beach he would still be alive.”“True that, but I would be dead Eric.”I stared at him.“Without your challenge I would had to face Steiner and I could not have hoped to defeat him with swords. I am saying that not lightly Eric but you basically saved my life.”Now father came and his face was as brooding and dark as ever.” What do you want to do with the Steiner clan?”Hogun. “So, you have no restrictions on accessing the money in the trusts other than your current age?“Nope. As the trustee, I can take money out as easily as I can from my bank account.”“What are some of the other benefits to a trust?”“A trust can be used to protect assets from creditors, for estate planning as you mentioned, for subterfuge as I mentioned, and to some degree for tax benefits. It really depends on the intention of the trust when it gets established. Oh, and also the state in which the trust is based. Texas doesn’t tax any of the assets in my trusts until they are distributed, which is nice, but there are other terms that they put on trusts that might not be to your liking.”“I thought a trust had to be established in a person’s state of residency?”“No, typically, the only residency rules would apply to the trustee named in the trust, but there are ways to get around that too. Anyway, my dad’s lawyers will be able to answer all your questions and help you set up a trust when.
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