Spendthrift or Discretionary Trust – Which One Do I Need?

Trusts are a common estate planning tool. Reasons to create and fund a trust range from asset protection to providing for someone with special needs. Some trusts even have similar purposes. Two such trusts are the spendthrift and discretionary trust – similar enough, but with significant differences. Knowing which trust to use is critical. Trusts in General In a trust document, the person creating the trust (a Read More

Spendthrift Provision: Protecting Beneficiaries from Themselves

Most of the time, we have the best intentions when deciding who will get our property after we’re gone. A well-crafted, comprehensive estate plan can give the maker a sense of accomplishment, contentment, and serenity. During the estate planning process, though, people start to ask some hard questions about their heirs: Are my loved ones able to manage receiving a large sum of money or valuable property? Are they so Read More