Estate Planning, with Strings Attached

We hear this from our clients every day: “We’ve worked hard to build a nest egg and want to structure an estate plan that takes care of our children and grandchildren after we’re gone.”

But here’s a catch. How do you build in certain conditions, aka “strings attached,” that are near and dear to your heart? For instance:

• Making sure your heirs don’t cash out their inheritance soon after you pass.

• Ensuring money stays in the bloodline, so that a divorce or debt with one beneficiary doesn’t drain funds meant for all direct family members.

• Planning for a child with a disability without assigning a sibling with the serious responsibility of managing the trust

On Saturday, June 15, elder law attorneys Aaron Connor, Lou Pierro and Rebecca Cerny shared their top strategies for inter-generational planning. They explained how special needs trusts, beneficiary-controlled trusts and standalone retirement trusts are effective options that can customize your wishes into a sound legal plan.