How are you leaving assets to your children? Are you leaving your assets to your children unprotected when you die, or are you leaving the assets protected in an ongoing trust?
The typical revocable living trust allows your children to avoid probate and unnecessary taxes upon inheriting your estate, It usually expires after the assets are distributed. Although this type of trust has its place, it does not protect your children.
Instead of distributing assets directly to your children, you should consider leaving them in an ongoing trust for their benefit. With an ongoing trust your children can withdraw the funds from the trust but they won’t own the trust. The ongoing trust owns their assets. The trust protects your children and their money from creditors, divorces, and taxes.
I fix trusts. Protect your children and grandchildren. To learn more, call us at 949-756-0684 for a free consultation in either our Irvine or Long Beach office.