Many people understand that if a family uses a trust for estate planning, it will avoid probate, because all of the property of the plan is in a trust, in control of the Trustee at the time of death.

What many people do not fully realize is the huge flexibility in estate planning which is available with trusts. Since a trust is an agreement between three parties: the trustor, the trustee and the beneficiaries, a trust agreement can be tailored to accomplish a great variety of planning techniques within the landscape of the law.

One area of planning for children which is not very well knows is asset protection.  A planner may want to keep creditors from piercing a trust which a child may be at risk by reason of his/her business or profession.

Future spouses of children may seek a child’s assets in divorce, which can be stopped with a trust.  Spendthrift provisions may greatly benefit a wayward or financially irresponsible child.

Special needs trusts can be set up for children with needs in such a way that it won’t be subject to collection from government programs or services which the special needs child may receive.

All of these situations can be met with a whole spectrum of choices depending on a child’s needs and a parent’s desires for the specific circumstances of children.

Call our office to see what types of planning can be done for your family which you may not have known was available.  We have the knowledge and expertise to tailor a plan using trusts with our knowledge of what the law allows.