52 THE QUEENS COURIER • JANUARY 8, 2015 FOR BREAKING NEWS VISIT www.queenscourier.com business TIGER SCHULMANN’S MIXED MARTIAL ARTS OF BAYSIDE Get In Shape Wit h H ig h Energy Training! Top-rated Martial Arts Gym, Tiger Schulmann Bayside prepares students of all ages and all skill levels to achieve their own personal bests in Kickboxing, Karate, Muay Thai, and Mixed Martial Arts. Whether you or your child are looking to take beginner lessons or hone skills for an upcoming competition, the professional Tiger Schulmann’s instructors have the experience necessary to turn those goals into reality. The Tiger Schulmann model of training emphasizes dedication, confi dence- BUSINESS in the NEWS building and discipline. The techniques students learn, teach them how to relax their minds and envision their bodies achieving the goals they desire. Envisioning oneself in peak physical condition can motivate you to have the discipline and strength needed to actually achieve this condition. The martial arts are an effective form of stress relief for those practicing. The techniques taught by Tiger Schulmann’s highly skilled instructors help students to ease their minds of outside stress while still in full control of the movements their bodies go through. To encourage new students to experience the fun of Tiger Schulmann Bayside, we offer special deals and promotions for fi rsttimers. When you sign up via the website, www.baysidemma.com, you are eligible for a free trial class or a free pair of premium bag gloves. Those who are interested in learning more about Tiger Schulmann classes are encouraged to visit the Northern Boulevard studio. The studio is open six days per week, Monday through Thursday from 10 a.m. - 10 p.m. and Saturday from 9 a.m. - 3 p.m. The late weeknight and weekend hours allow students fl exibility in scheduling. A full class schedule is posted regularly on the website. Stop by today and see why our Tiger Schulmann Bayside location is all the rage! Tiger Schulmann’s Mixed Martial Arts 215-15 Northern Boulevard Bayside, NY 718-423-5454 www.baysidemma.com Elder Law Minute TM TRUST PROTECTOR - ANOTHER LEVEL OF SECURITY FOR YOUR LIVING TRUST BY RONALD A. FATOULLAH, ESQ. AND YAN LIAN KUANG-MAOGA, ESQ. Many of us are familiar with trusts and may already be using trusts for various purposes. We also may be familiar with the common players involved in any given trust: (a) grantor(s) or settlor(s), (b) trustee(s), and (c) benefi ciary(ies). A grantor or settlor is the person who creates the trust and transfers ownership of his or her asset(s) into the trust. A trustee is the person who manages the day-to-day administration of a trust. Benefi ciaries are individuals who may have a current or future interest in the income or principal of a trust. Another player we may be hearing more of and may consider using is a trust protector or advisor. A trust protector (or advisor) is a person named by the grantor to ensure that the trustee carries out the wishes of the grantor as provided under the trust instrument. While the trustee is involved in the day-to-day administration of the trust, a trust protector is not. A trust protector’s role is to monitor the actions of the trustee and to make critical decisions about the operation of the trust or the distribution of trust assets. Some of the important tasks a trust protector may perform are as follows: (1) Advisor to Trustees – When a trustee is not savvy about investing trust assets, a trust protector who has investing expertise may be appointed to advise the trustee. Depending on the needs of a particular trust, a trust protector who is a real estate, accounting, fi nancial planning, or legal professional may be appointed to advise the trustee. Also, a person who knows the intent of the grantor or the needs of the benefi ciaries may be appointed as a trust protector to advise bank trustees when exercising discretionary distributions from the trust. (2) Monitor the Actions of Trustees – Instead of having the benefi ciaries ensure that the trustee adheres to the terms of the trust, a trust protector may be appointed to do so. An important power that a trust protector should have is the ability to remove and replace a trustee without court approval. (3) Mediating Disputes – As an alternative to potentially expensive court proceedings, a trust protector may be appointed to mediate any disputes between the trustee and benefi ciaries or among the benefi ciaries. This person can be a family member or friend who is familiar with the grantor’s wishes and is able to interpret any ambiguity in the trust. The use of a trust protector is benefi cial in many ways and can add another level of security for your living trust. Of course, a trust protector should be considered when creating a living trust, but a trust protector can also be added to an existing trust in most instances. A grantor can appoint a trust protector where appropriate and clearly delineate the role and powers of the protector in the trust instrument. Ronald A. Fatoullah, Esq. is the principal of Ronald Fatoullah & Associates, a law fi rm that exclusively concentrates in elder law, estate planning, Medicaid planning, guardianships, estate administration, trusts, wills, and real estate. Yan Lian Kuang-Maoga, Esq. is a staff attorney at the fi rm. The law fi rm can be reached at 718-261-1700, 516-466- 4422, or toll free at 1-877-ELDERLAW or 1-877-ESTATES. Mr. Fatoullah is also the co-founder of JR Wealth Advisors LLC. The wealth management fi rm can be reached at 516-466-3300 or 800-353-3775. ELDER LAW RONALD FATOULLAH ESQ, CELA* With High
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