FAQ:

What is the best way to leave property to children?

Planning for children is an important goal for many clients. How you plan for children may depend upon their age, their level of knowledge and sophistication, their ability to manage wealth, and the size of your estate. Most people agree that leaving a large inheritance for teens and young adults is problematic. Therefore, many of our clients choose to leave property and wealth to their children in trust with another family member or institution acting as trustee, until the children reach a pre-selected age when they are old enough to handle the wealth. This age may be different for different families and children. Children can be supported by trust assets as directed by the trust instrument and the discretion of the trustee. Planning for children is highly customized from case to case.

One of the benefits of establishing trusts for children is to assure that the child is protected in the event of divorce. When your wealth is passed to a child in trust, those assets do not become marital assets that are subject to claims of a son or daughter-in-law during a divorce.

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