Financial risks abound in today’s society – from lawsuits to divorce to creditors, your children face increasing financial peril. So what can you do about it, beyond giving them the card to your insurance guy? Thankfully, there is one new powerful tool you can use to protect your child’s inheritance.
Direct = No protection
Most estate plans are designed to handle the closing costs and then divide everything between the children. The successor trustee ends up writing a number of checks to different individuals, who then deposit the money. Everything going directly to the beneficiary has zero protection from creditors, lawsuits, or even divorcing spouses.
Creating the “Force Field”
Instead of receiving their inheritance directly, each of your beneficiaries may instead receive their inheritance in a special trust, which springs out of your Living Trust. This continuing “Personal Asset TrustSM” (or “PAT”) can be controlled by each beneficiary in such a manner as to virtually give him or her all the same rights as ownership, without the liability exposures ownership brings. Your child now has an effective “force field” around their inheritance making it much more difficult for anyone else to take their inheritance from them.
Who is This For?
Even children who are great with money are exposed to financial risks. This type of trust is perfect for anyone who wants to give their children more than just an inheritance. When you create a Personal Asset Trust for your children, you are giving them a protected financial asset. Their inheritance can now become a cornerstone in their fiscal strength and well-being.
Two Easy Options
Creating this type of trust can be done when we create a new estate plan for an individual or a couple. It can also be implemented through an amendment to an existing estate plan.
Free Personal Asset Trust Report
Learn more about how a Personal Asset Trust can protect your childrens inheritance with this easy to read report.