Who Gets Your Stuff

Any person who gets interested in establishing an Estate Plan may probably consider who they want to inherit their assets. The Government will only distribute assets to their married spouse in limited circumstances without an estate plan. Half of their assets will probably go to their children or parents. Is that what you really want?

What happens if you aren’t married, and don’t have kids? What happens to all your hard-earned assets? Who is in line to receive your assets? YOUR HEIRS! These might be people you don’t even like or people who don’t need your assets. 

The line of succession starts with your parents if they are still living, and then your siblings. You may not want your family to inherit your assets at all? Or you may want your family to receive everything but without more financial and emotional costs? With an Estate Plan, you are able to include and exclude anyone you wish to receive your assets, and how they receive them.

How They Get Your Stuff

In establishing a comprehensive Estate Plan, creating a Trust is a must. A Trust will detail exactly how assets are distributed. Assets may be distributed in a variety of ways, including outright, so the beneficiary will receive everything at one time. You may also set up an Asset Protection Sub-Trust, so your hard-earned assets are protected for your beneficiaries. Other special provisions include age restrictions for minors and distribution limitations for beneficiaries that need more supervision or are receiving Government benefits. Trusts allow asset distributions to be personalized and designed exactly how you need them to be.

When They Get Your Stuff

Upon the Grantor’s death, the Successor Trustee will administer the Trust and distribute the assets to all beneficiaries. The attorney who helped establish the Trust is the best resource for counsel and assistance during Trust administration. You have worked hard to create the life you want, now create your plan to protect the lives of those you love. Schedule a consultation with our firm to learn more about how you can help your loved ones.