Several clients have asked recently about Heritage Trusts and why they might need them. The short answer is that it is an extra layer of protection to ensure your “stuff” ends up with the intended beneficiaries. But I prefer to explain it this way:

Imagine for a moment that you have a son who is now grown and married with two beautiful children — your grandchildren. While crafting your estate planning strategy, you naturally decide to leave everything to your son. But if something were to ever happen to him, or he were to get divorced, how could you ensure everything would then be passed on to your grandchildren? Without a Heritage Trust, you cannot be so sure. Theoretically, your son could leave everything to his wife, and if she were ever to remarry, that could open the door to money possibly ending up with someone else entirely.

Do you see where we are going with this? Adding a Heritage Trust to your existing estate plan ensures:

• Money you leave behind goes to the grandchildren rather than your child’s spouse
• Trust assets are protected from your child’s spouse in case of a divorce
• Trust assets will be protected from creditors and lawsuits

An Estate Planning attorney can help you plan for the seen and unforeseen

It can be difficult to think of every possible scenario, and the mere idea of all of those unknowns can be overwhelming. Having an estate planning attorney in your corner alleviates those concerns. Our job is to get to know you and your family, ask the right questions, think of things you might not think of, and create a plan that matches your needs and goals.

We can design a Heritage Trust that protects even the least capable and responsible children as well as the wisest and most mature. If the child is mature enough and responsible, they can be named their own trustee and have access to the money yet still be protected from the outside world.

Heritage Trusts and so many more concepts designed to protect your children are discussed in Chapter 8 of my book, Who Gets Your Stuff When You Die. The idea is to keep you in control and give you peace of mind.

Careful planning can help you have all your bases covered

At Leigh Hilton, PLLC, we want to be the resource in your back pocket and the voice in your ear who helps you be the hero that you are. Please call us so that we can help ensure your family will be taken care of in the best way possible. Proper planning of an estate, whether through a Will, Trust, or both, helps ensure your family is cared for.

Leigh Hilton PLLC wants to be your first call every time for any estate planning need. We look forward to serving you.

Thanks for reading!