The Triple Generation Trust

Karen and Duncan McCoy were interested in planning their estate to protect their children from any future divorces and keep their family money in their blood line for the benefit of their children and grandchildren. They wanted to avoid the voluntary 40% percent death tax and stay out of probate. The McCoy’s estate was 4 million dollars but they were nervous about Bernie Sanders’ proposal to reduce the death tax exemption back down to $3.5 million and to increase the death tax rate to 45 percent for any amounts above the 3.5 million threshold.

The original McCoy trust passed their assets outright and free of trust to their children after their death. They decided to update their old trust to the triple generation trust in order to protect their assets passing to their children and avoid a second death tax on their assets when their children died.

Their daughter Jenny had already been divorced once and was getting married again so they wanted to ensure their assets only went to Jenny, otherwise to her children and not to their new son in-law.

Their daughter Maggie had an alcohol problem but was still driving and was able to work. They wanted to protect Maggie’s inheritance in case she got sued because of a future traffic accident.

Giving your children assets is not the same thing as giving them protected assets. Protecting children’s assets can only be done in “your trust”. Your children cannot provide this asset protection for themselves; only you can give it to them.

If you want to avoid the voluntary death tax and probate for the next 90 years and keep your assets in your bloodline, call W. Bailey Smith (The Trust Doctor) at (949) 833-8891 to set up your Triple Generation Trust today!