Working with a couple who wants to make sure that their children do not lose their inheritance if the children get divorced.
Neither of the two children are married, but both children have "significant others" and the couple anticipates marriage is coming up for each of their children. They fear that one of their children will continue to invest in their spouse's business.
We discussed the options that are available to the couple. We are setting up their estate legal program so that when the children inherit, they will inherit in a trust - we call this trust the Children's Inheritance Trust.
By having the couple leave their estate to their two children's Inheritance Trusts, they make it more likely that the inheritance will be kept separate from any community property that the child may have with their spouse. If a child subsequently gets a divorce, then the child will keep their trust because the trust will not have been commingled with the assets that the child acquired with their spouse.
Most families these days have divorce circumstances. If you want to set up an estate legal program so that your children's inheritance is protected from their past, present, and future divorces, give us a call to start a conversation about the easiest ways to protect what you've worked to build.