I am working with several couples right now who want to make sure that their children do not lose their inheritance if the children get divorced.
None of the children are are married yet, but some have "significant others", and the couples anticipates that a marriage may coming up in the near future. They fear that one of their children will continue to invest in their spouse's business.
We discussed the options that are available to the couple. We are setting up their estate plan so that when the children inherit, they will inherit in a trust - we often call this trust the Children's Inheritance Trust.
By having the couple leave their estate to an Inheritance Trust for the benefit of their children, they help ensure that the inheritance will be kept separate from any community property that the child may acquire with their spouse. If a child subsequently gets a divorce, the child will keep their trust truly separate - because the trust will not have been commingled with the assets that the child acquired with their spouse.
Many families these days have divorce circumstances. If you want to set up an estate plan so that your children's inheritance is protected, give us a call to start a conversation about the easiest ways to protect what you've worked so hard to build. You may also feel free and visit our website for a free report entitled California Legal Strategies to Protect Your Family’s Inheritance from Divorce, Creditors, and Lawsuits.”
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