Estate Planning 101

What is an Estate Plan and How Do I Protect My Family?

Asset Protection 101

How Do I Protect My Assets, Including Rental Property and Business?

The third Thursday of every month 5:30-6:30 pm.                

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Some parents have specific ideas and values related to how their kids can spend their inheritance that go beyond the general “health, maintenance, education and support” provisions that most living trusts contain.

 

Can your kids use some of their inheritance as a down payment on their first home? Would you be willing to allow them to use the money for their wedding and honeymoon? Do you want to put restrictions on how long they can stay in college on your dime? We will help you address common scenarios parents face where they decide to help their children or not financially such as education, transportation, etc.  

 

Adding this piece to your revocable living trust would give your trustee concrete examples of how you want your children to benefit from their inheritance rather than ambiguously leaving the distribution of your assets to your trustee.  This highly customized type of planning is good if you think your trustee needs or would appreciate some guidelines.