Protecting Your Loved Ones, and Their Inheritance
Estate planning is all about family. Your family — and the peace of mind that comes from knowing they’ll be sheltered from life’s uncertainties and protected from the unknown. Part of this planning includes protecting their inheritance from creditors.
Even if you take all the steps necessary to ensure that your beneficiaries receive a nice nest egg when you pass away, it can disappear quickly once it is in their hands unless your estate plan is designed to avoid this possibility. Fortunately, you can create a trust with terms that will protect your beneficiaries’ inheritance against claims arising from their creditors, divorcing spouses, or lawsuits.
There are a variety of different types of trusts that can protect money and property from such claims, and we can help you select the right strategy for your unique situation.
Trusts for Purposeful Planning
You may also want to include terms in your trust for specific purposes so that even after you have passed away, you are still able to help your beneficiaries make certain important purchases or pay for special care.
A trust can authorize distributions for expenses such as:
- Paying for a wedding
- Making a down payment on a home
- Starting a new business
Like other types of discretionary trusts, the money and property held by the trust cannot be reached by the beneficiaries’ creditors. However, once the money has been distributed to the beneficiary, creditors will be able to reach it.
Planning for Loved Ones with Special Need
If you have a special needs child or grandchild, a special needs trust may be an appropriate consideration. This type of trust, which must be carefully drafted, allows you to provide for someone with special needs without disqualifying them from the government benefits they are eligible to receive.
Take the Next Step Today
Protect your family’s future with thoughtful estate planning that brings peace of mind.
