Snow White’s Father Needed an Estate Plan
Most of us know the story of Snow White and the Seven Dwarfs, and crucial to this story is the relationship between Snow White and her stepmother. Things are peaceful for a time, but once the King dies, Snow White’s stepmom’s true colors come out, and she tries to kill Snow White, who flees into the forest. Snow White has a happy ending, living with the seven dwarfs and meeting Prince Charming. However, the hardships she endured with her stepmother could have been avoided. Snow White’s situation may seem extreme, but this fairy tale highlights the potential conflicts when a family’s unifying member dies without an estate plan. The story could have been very different if the King had consulted an estate planning attorney to organize his affairs.
The King’s Wishes Should Have Been in Writing
We do not know what the King’s wishes were. However, had he crafted an estate plan and written them down in a legally enforceable manner, we would know, and they could have been enforced. To carry out his wishes, the King had a couple of legal tools he could have utilized.
1. A Last Will and Testament
The King could have used a will to specify who would receive his accounts and property and name a guardian for his minor child. This would have provided an official way for him to express his wishes.
2. Revocable Living Trust and a Pour-Over Will
The King could have also created a revocable living trust in which he could name himself as the trustee, manage his assets while he was still alive, and determine his inheritance without probate, protecting his loved ones’ inheritances after his death. With this, he would need a pour-over will to appoint a guardian for Snow White.
A Trust Could Have Secured Snow White’s Future
When her father passed away, Snow White was too young to handle a large inheritance (or rule an entire kingdom). To protect his daughter, he could have set up a trust for Snow White. It would specify when and how she received her inheritance. Similarly, he could have set up a trust for his wife, detailing how much she got and when and ensuring Snow White received anything left when her stepmother died.
A Professional Trustee Could Have Protected Snow White’s Legacy
Once the King established a trust, assigning a professional trustee would have been in his best interest. This impartial third party would have been responsible for managing and administering the trust according to its terms and the best interests of its beneficiaries. The trustee would act in the best interest of Snow White, safeguarding her inheritance and providing financial stability. Therefore, the chance of potential misuse by the stepmother would have been greatly reduced.
Snow White Could Have Had a Better Guardian
When the King died, Snow White’s stepmother took control and was not a kind guardian. The King could have nominated a better guardian, like a grandparent or aunt, in his will. This nomination, often in a last will or a pour-over will, carries weight in court. Some places also have a separate guardian nomination document that can be referenced in the will, making it easier to update.
Craft an Estate Plan With Law Stein Anderson
While Snow White’s story is just a fairy tale, it teaches important lessons. We all want our loved ones to have happy endings. At Law Stein Anderson, we can help you take steps to avoid the unfortunate outcomes seen in many fairy tales—contact us today.