Estate Planning

A Lifetime Trust is and extremely valuable benefit that only you can give to your heirs. By holding assets in a trust for the lifetime of the beneficiary, you ensure that the inheritance is protected from lawsuits, spouses upon divorce and estate taxes when the beneficiary dies.

Yes, inheritances are separate property in case of divorce! But the reality is that many beneficiaries commingle the inheritance placing it at risk in the divorce.

Yes, a beneficiary could take the inheritance and establish an asset protection trust. But, the reality is they will not do it and if they are wise enough to do it the cost could be $20,000 to $40,000! And will it work?

The Beneficiary can control the assets by becoming a Trustee at the age you choose. They can grow into this responsibility by being Co-Trustee for a given period before becoming sole Trustee.

This trust can be designed to be totally discretionary meaning the Trustee has absolute discretion in payment to the Beneficiary or based on the standards of health, education, maintenance and support.

The message is clear, a Lifetime Trust is a wonderful gift only you can give! And it lasts the lifetime of the one you love!

SOURCE: Vaughn DeKirby