Trust & Estate Quick Tip #5 - How to Protect Your Estate From Your Kids' Spouses and Creditors
www.estateandprobatelawyer.com / 954-580-3690
Should you leave your estate to your adult children in a trust?
Yes!
The two most important factors on why you would want to do this are to:
1. Protect your assets from in-laws
2. Protect your assets from creditors
A lifetime trust, also called a lifetime asset protection trust (LAPT) is a special type of trust designed to protect your loved ones and their inheritance from ruinous decision-making and the actions of creditors.
By leaving your assets in a lifetime trust, your child’s spouse and creditors wouldn’t be able to go after these assets.
A lifetime asset protection trust may be useful where an heir has significant debt, is going through or is likely to go through a bad divorce, or is known to make poor decisions when managing money.
If something happens to your adult child, the assets will remain in the trust for your other surviving children or existing grandchildren.
The assets will also be protected from creditors that your child may have such as getting sued, hurting someone in a car accident, or defaulting on business loans and/or student loans.
Talk to a seasoned estate planning attorney to discuss your options for trusts and whether a lifetime trust is appropriate in your circumstances.
PHONE: 954-580-3690
WEB: www.estateandprobatelawyer.com
FACEBOOK: https://www.facebook.com/estateandprobatelawyer
YOUTUBE: https://youtu.be/ErIZr-NbwjI
INSTAGRAM: https://www.instagram.com/sjflawgroup/
LINKEDIN: https://www.linkedin.com/company/sjflawgroup/
TIKTOK: https://www.tiktok.com/@sjflawgroup
-
2:03:18
AP4Liberty
3 hours agoCan Trump Be POTUS from Prison?
10.9K4 -
1:37:18
jeffahern
2 hours agoMonday Madness with Jeff Ahern (6AM)
2.96K3 -
9:10
MichaelBisping
16 hours agoBISPING reacts: Islam Makhachev SUBMITS Dustin Poirier after a WAR! | UFC 302 Reaction & Breakdown
23.8K17 -
13:49
DepressedGinger
16 hours agoDonald Trump's path to 406 Electoral Votes
34K26 -
3:40
Degenerate Jay
15 hours agoThe Future Of This Channel - Games, Movies, Comics And More!
31.6K6 -
4:33
Film Threat
1 day agoIN A VIOLENT NATURE | Film Threat Reviews
32.9K6 -
17:06
Cody and Kellie
16 hours agoLiving in a Truck Camper Down by the River
35.1K9 -
14:20
Precision Rifle Network
22 hours agoTactical Mobility? E-Bike Review - Mokwheel Basalt
19.7K6 -
2:16:09
TheSaltyCracker
15 hours agoTrump Takes in $200 Million After Conviction ReeEEeE Stream 06-02-24
169K573 -
2:49:49
MissesMaam
14 hours agoGrinding Achievement + Perfection | Stardew Valley 💚✨ pt. 34
59.7K7