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Who Is A Spendthrift Trust For In Santa Clarita?

Many people establish estate plans with the goal of protecting their assets for themselves and for their families. If you are establishing an estate plan and have concerns about what will happen to your assets once they are passed to the desired beneficiaries, contact a Santa Clarita spendthrift trusts lawyer Andrew C. Cohen at the Law Offices of Andrew Cohen, and schedule a free consultation today.<br>

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Who Is A Spendthrift Trust For In Santa Clarita?

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  1. Who Is A Spendthrift Trust For In Santa Clarita?

  2. Many people establish estate plans with the goal of protecting their assets for themselves and for their families. Much of this protection comes in the form of preventing creditors and the government from taking away assets upon death. However, the beneficiaries you are handing her assets over to are often the very ones who pose the most risk to the assets themselves.

  3. Who Is A Spendthrift Trust For In Santa Clarita? A spendthrift trust is used in situations when a person wants to leave their assets to a beneficiary who they know or suspect cannot handle the money responsibly. There are various reasons why that person may not be able to responsibly handle the assets that you wish to give them.

  4. In a spendthrift trust, there will be a trustee who will make decisions about how the trust assets are distributed after you pass away. By using your wishes as their guide, the trustee will make decisions about the size and timing of payments made to beneficiaries. Because the trustee will have complete control over the principal’s assets, the principal will not be able to use the trust as collateral for other purchases.

  5. Hire An Attorney If you are establishing an estate plan and have concerns about what will happen to your assets once they are passed to the desired beneficiaries, contact a Santa Clarita spendthrift trusts lawyer Andrew C. Cohen at the Law Offices of Andrew Cohen, and schedule a free consultation today. Andrew C. Cohen

  6. 25060 Avenue Stanford, Suite 255, Santa Clarita, CA 91355 Contact Details 661-481-0100 https://www.andrewcohenlegal. com/contact/

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