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If you have a son or daughter battling a serious drug or behavioral addiction you can place their inheritance in a ‘Spendthrift Trust’ built into your ‘Living Trust.’ The child’s inheritance is managed by a ‘Trustee’ and used for the benefit of the troubled adult or youth. The Trustee can be a family member, trusted friend, or professional fiduciary. The Trust can provide the appropriate level of support for the situation as it may unfold

Over $18 trillion dollars will change hands as this generation passes their estate to their heirs. Statistics suggest that 1 in 5 families are positioned to avoid probate with a living trust. This means probate courts and lawyers will be busy as 4 of 5 families will go to court to receive their inheritance. Children will be forced to wait to receive their share while courts and attorneys process the family estate. For families that

5 Reasons to Avoid Probate With a Living Trust Your children and heirs can completely avoid the probate process Your estate remains private. Probate involves public notice and disclosure. You can speed up the distribution of your assets to your heirs by months or years. You can limit or avoid Federal Estate Tax, State Estate Tax and Capital Gains Taxes. You can avoid multiple probate proceedings if you own property in more than one state.

Good estate planning involves a lot more than deciding who gets what. The Living Trust Source, powered by InSource Law LLC, recommends that you consider the following when creating or updating your estate plan: Instructions for your care if you become incapacitated Instructions for passing your values Specific provisions for loved ones who might be irresponsible with money or who may need future protection from creditors Protection for your loved one’s inheritance in case of