Estate Planning Weekly

Worried about leaving money to an heir that couldn't handle it? Someone with drug, alcohol, or gambling problems? Here are two ways to deal with those heirs in your Estate Plan. Disinherit The Heir Some of my clients decide that their heir is beyond help, and they simply don't leave them anything. This is the most extreme option. However, depending upon the circumstances it is sometime the best solution.  This options saves other heirs or family members from having to manage an inheritance for the problem heir. Leave Their Inheritance In A Spendthrift Trust A Spendthrift Trust is a trust that gives the problem heir ZERO control over their inheritance. They are still the beneficiary of the trust, just without any control. Instead, another person is made trustee and given complete authority and control over how the inheritance is distributed.  Creating a Spendthrift Trust for a problem heir makes sure that their inheritance is there to help them, but not there to support their additions. For a Spendthrift Trust