Chapter 16:
Frey’s breath slowed as the iron door closed behind him with a heavy clang. His pulse was pounding beneath his skin. The hallway ahead stretched long and narrow, the flicker of lanterns casting warped shadows along the stone walls. His fingers curled tightly around the key Covey had given him, the cold metal biting into his palm.
The murals on the walls told a story: robed figures gathered around a colossal ledger, their hands raised as ink spilled from quills and seeped into the ground beneath them. Chains wrapped around their wrists, disappearing into the stone floor. Their faces were blank, silent, and devoid of expression.
“Whoever controls the ink controls the debt.” Covey’s words echoed in his mind as he stepped forward. The dagger pulsed faintly in his hand, a rhythmic thrum that matched the beat of his heart.
A black iron door, more significant than the last, stood at the end of the corridor. Symbols etched into its surface glowed faintly in the dim light. A narrow slit at the center revealed a gleam of light beyond.
Frey reached out. The symbols on the door flared with cold blue light before the door swung open with a low groan.
A single pedestal stood at the center of the chamber beyond. The air was cold and thin. On the pedestal, a black ledger bound in iron clasps lay. Frey’s footsteps were soundless against the polished stone floor as he approached.
A tall figure, robed in deep black, with deep bronze skin, with gold etched ancient-looking symbols along the edges of his robe and linen cap. Frey stared, as if confused by what he was seeing.
“Heka,” the tall figure said aloud.
Heka stood beside the pedestal, his silhouette tall and sharp. His gaze was dark and watchful. “You’ve come this far,” he quietly said. “Now comes the choice.”
Frey’s hand hovered over the book. “What is this?”
“The House of Auld Haven’s ledger.” Heka’s tone was flat. “The contract that binds not just wealth, but power. Names written in ink and blood. Once a name has been entered, it becomes property.”
Frey’s eyes narrowed. “My name is already in it.”
Heka nodded. “Yes.”
Frey’s hand trembled as he reached down and looked at the book.
Frey’s hand trembled as he reached down and looked at the book.
It wasn’t covered in dust like the others in the room. It pulsed faintly, as if something alive was stitched beneath its leather skin, a leather far too smooth to be cowhide. A single rune was carved into the cover, shallow but sharp, as if etched by a blade that hadn’t dulled in centuries. It glowed dimly, the color of dying embers.
The air around it felt thicker, as if the space itself were bending inward, humming with pressure. As his fingers brushed the surface, a strange warmth crawled into his fingertips, not painful, but sincerely wrong, as if the book recognized him.
He noticed the back cover, near the spine, had a circular indentation the exact size of a coin, but significantly larger than the ones he had seen. Smooth, seamless, and too precise to be a coincidence. The kind of detail no one alive should be able to build. The ledger sat on a pedestal carved from the obsidian-like stone that formed the estate’s foundation, ancient, heavy, and humming. Frey looked around, the silence pressing in, and flipped open the cover.
The pages had careful script names, transactions, debts, and claims. Some names were crossed out in heavy ink strokes, and others were circled in red.
His breath caught as he turned the pages, so many names he knew, but most unfamiliar. He continued to flip through the almost leather-feeling pages until he came across a name he had just recently met:
Covey Owed To: The House of Auld Haven.
He continued flipping until he came across his name:
Freyderic Alaric Solis
- Amount Due: Undisclosed
- Interest: Compounded
- Owed To: The House of Auld Haven
“How long has this been here?” Frey’s voice was sharp.
Heka’s gaze darkened.
Frey’s jaw tightened. “Then how do I erase it?”
“You don’t,” Heka said.
Frey’s eyes narrowed. “Then how?”
Heka’s gaze sharpened. “Rewrite the contract.”
Frey’s hand hovered over the page. “With what?”
Heka stepped closer. “Blood and ink.”
Frey’s pulse quickened. He could feel the weight of the ledger, the pressure of centuries of wealth, trade, and hidden deals. The system was built on more than money. It had been built on control, on ownership.
And ownership was power.
Frey’s mind raced. If he erased his name, would the debt disappear? He could free himself, but leave the next generation bound.
His eyes lifted to Heka’s. “What if I take control?”
Heka’s gaze was steady. “Then you become the one who holds the pen.”
Frey’s fingers brushed the ink bottle beside the ledger. He dipped the quill into the ink. His hand hovered over his name. The ink trembled at the tip of the quill.
Frey gritted his teeth and pressed the quill to the page.
“Debt annulled.”
The ink burned against the parchment, glowing faintly before fading into deep black. The iron clasps around the ledger shuddered, then snapped open.
The room trembled. Chains along the walls shook and shattered, falling to the floor in a cascade of iron. A deep rumble rose from beneath the ground.
The ledger began to close, then stopped.
A figure stepped from the shadows. Tall, robed in black, with hollow eyes glinting beneath his cap, his hand hovering toward the ledger.
“You’ve broken the debt,” the figure said in a voice like a grinding stone. “Who now holds the ledger?”
Frey’s hand steadied. “I do.”
The figure’s head tilted. “And the names still inside?”
Frey’s gaze hardened. “I decide their fate.”
The figure’s hollow eyes glowed faintly. “Power corrupts.”
“Only if you let it.”
Frey’s hand rested firmly on the ledger, closing it shut. “And I won’t.”
The figure studied him for a long moment, then slowly faded into shadow. The air lightened, and the chains along the walls stopped shaking.
Heka’s voice could still be heard. “You’ve done it.”
Frey lifted the ledger. Its weight felt different now, lighter. But the responsibility within it pressed against his chest.
Heka’s voice lowered. “What will you do with it?”
Frey’s grip tightened. “Rewrite the system.”
Frey turned toward the door. The corridor beyond was no longer dark; faint light spilled down the walls. He stepped into it; the ledger tucked beneath his arm.
Frey’s Journal: Cycle 8, Phase 2, Solar Arc 218
Estate Planning: Will & Irrevocable Trust
Estate planning ensures your assets are distributed as you wish while minimizing taxes and protecting your loved ones. Two of the most effective tools for preserving wealth and passing on assets are wills and irrevocable trusts.
Entry: Cycle 8, Phase 2, Solar Arc 218
What Is a Will?
A will is a legal document that defines how your possessions and assets will be distributed after your death. It reflects your final wishes and ensures clarity for your loved ones.
Critical Elements of a Will:
- Executor: Carries out the will’s instructions. (e.g., a trusted relative or attorney)
- Beneficiaries: Individuals or organizations receiving your assets.
- Assets: A list of possessions like real estate, accounts, and valuables.
- Guardianship: Appoints caregivers for minor children.
- Debts & Expenses: Outlines how to settle financial obligations.
- Special Instructions: Includes sentimental items like heirlooms or collections.
What Is an Irrevocable Trust?
An irrevocable trust is a legal entity where assets are transferred to be managed by a trustee. Once created, it generally cannot be changed without the beneficiaries’ consent.
- Permanent: Cannot be altered once finalized.
- Asset Protection: Shields from lawsuits, creditors, and estate taxes.
- Tax Benefits: Assets are removed from the grantor’s taxable estate.
- Controlled Distribution: Specifies how and when beneficiaries receive assets.
Why Include an Irrevocable Trust?
- Minimize Taxes: Reduces estate taxes. (placing investments in the trust)
- Protect Beneficiaries: Prevents mismanagement by minors or others.
- Avoid Probate: Trust assets skip the public court process.
- Preserve Government Benefits: Helps maintain eligibility for Medicaid or SSI.
Create a revocable trust, transfer key assets into it, name a successor trustee and beneficiaries, and retain control during your lifetime. Upon death, assets transfer privately, no probate.
Will vs. Irrevocable Trust
| Will | Irrevocable Trust |
|---|---|
| Covers all assets not placed in a trust. | Manages designated assets only. |
| Goes through probate. | Avoids probate. |
| Can be updated or changed anytime. | Changes require consent or a court order. |
| Useful for personal belongings and guardianship. | Best for tax planning and significant assets. |
Legal Implications
- Irrevocability: Once created, changes require the consent of all beneficiaries or a court.
- Trustee Responsibility: Must act in the best interest of beneficiaries.
- Setup Costs: Legal fees and ongoing maintenance expenses apply.
- Control: Transferring assets to a trust means giving up ownership.
Legal Legitimacy & Registration
Creating a will doesn’t automatically make it legally binding. To be valid, it must be in writing, signed by the creator, and witnessed by two non-beneficiaries. To enhance protection, consider registering your will with your local court or county clerk’s office to keep it secure and tamper-proof.
Registration may include costs like stamp duty or filing fees. Once public, anyone can access it—so weigh privacy concerns when registering.
Protect Your Heirs with a Spendthrift Trust
A spendthrift trust allows you to protect your heirs from poor financial decisions, creditors, and divorce settlements by controlling how and when they receive their inheritance.
- Create a spendthrift trust with specific terms regarding asset distribution.
- Appoint a trustee to manage the trust assets.
- Add provisions that prevent creditors from seizing trust assets.
Instance: If your heir has poor spending habits, a spendthrift trust could provide a monthly allowance instead of a lump sum to prevent mismanagement. A spendthrift trust protects inheritance from being squandered or seized by creditors while ensuring long-term financial stability for beneficiaries.
Create a Power of Attorney and Healthcare Directive
Estate planning isn’t just about distributing assets after death; it’s about ensuring someone you trust can make decisions if you become incapacitated. A power of attorney and a healthcare directive grant legal authority to a designated individual to manage your financial and medical affairs if you cannot.
- Establish a durable power of attorney for financial decisions to allow someone you trust to handle bank accounts, real estate transactions, and bill payments.
- Create a healthcare directive (or living will) to outline your medical preferences and authorize a trusted individual to make healthcare decisions on your behalf.
Instance: Suppose you suffer a medical emergency and cannot make decisions. In that case, a healthcare directive ensures that your wishes regarding treatment (including life support) are honored, and a power of attorney allows someone to pay your bills and manage your finances. These legal tools prevent confusion and ensure that your financial and medical affairs are handled according to your wishes without the delays and costs of court intervention.
Frey emerged into the morning light. The air stung his skin as he stepped out into the desolate city. A figure waited for him at the edge of the town, Covey.
“You did it,” Covey said. Frey’s eyes narrowed. “Was that your plan all along?”
Covey’s smile was thin. “We’ll see.”
Frey stepped closer. “The ledger is mine now.”
Covey’s gaze sharpened. “Then you have a decision to make.” Covey’s eyes darkened. “And which will you choose?”
Frey tightly gripped the ledger. “We’ll see.” With the ledger’s weight pressed against his side, he took a steady breath and stepped forward.