Creditor Protection for Beneficiaries
Are you worried about your child losing a portion of their inheritance in a divorce?
What about other unforeseen financial circumstances that your children may experience such as:
- a business deal gone bad,
- a malpractice suit against them, or
- a foreclosure on their home where the bank goes after them for the deficiency?
Most wills and trusts distribute everything outright to the children, however, beneficiaries who inherit assets outright risk losing the inheritance as creditors will try to collect by any means they can. With some proper planning, assets can be protected well into the future. Let’s be clear, your children will still have access to and benefit from their inheritance, but their creditors won’t.
Estate planning is an opportunity to protect your assets.
Failing to protect assets from your children’s ex-spouses is #2 on our list of “5 AVOIDABLE Surprises That DERAIL Even The Best Estate Plans”.
Find out more about protecting your assets from your children’s ex-spouse and creditors and what the other 4 surprises are by downloading our free report: