Life is unpredictable. Most people do not lose their inherited assets to creditors, divorcing spouses, debilitating injuries, bad decisions, taxes, nursing home costs, or accidental disinheritance. But some do. An estimated 40% of first marriages end in divorce. Approximately 40 million lawsuits are filed in the United States every year. Leaving assets outright to a beneficiary is simple and easy. But no matter how responsible your children or other beneficiaries are, their inheritance can be at risk. You must determine whether or not that is a risk worth taking. You can give your beneficiaries the use and benefit of assets without the liability of outright ownership by leaving assets in trust. We can help you assess family dynamics and assets, articulate your goals, determine the risks you and your family face, and evaluate the tools that can be used to mitigate or eliminate those risks. You can then make a reasoned determination as to what level of protection you wish to provide your beneficiaries.
