Asset Protection Planning Attorney in Phoenix, Arizona
What are some of the asset protection options for beneficiaries?
What are some of the asset protection options for beneficiaries?
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so trust provide a lot of flexibility um
and you know we can preserve assets for
your beneficiaries with the trust um in
some different ways the future is
uncertain we don’t know what life
circumstances the beneficiaries are
going to be involved in and facing but
some of the tools that we can use
include um putting Provisions in place
if uh you have concerns about a
beneficiary um you know squandering
their inher itance we can add
protections um in order to preserve that
money for their benefit and um if the
beneficiary is on any sort of government
assistance or you know later on in life
be um needs that government assistance
we can um add Provisions to the Trust In
order to allow them to continue uh
receiving those government benefits
while still um you know having the money
that you would like to pass down to them
be preserved for their benefit and used
for their benefit and supplement that uh
those government benefits we can also
set up Protections in a trust uh for
unforeseen circumstances for the
beneficiaries so if they were to be
facing law lawsuits um in the future or
they have creditors of their own uh or
they were to be facing divorce
proceedings uh so long as they keep that
money in trust and you provide for them
to receive their inheritance in trust
they can uh protect that money from
their creditors
Phoenix, AZ estates & probate attorney Kaylee McMains talks about some of the asset protection options for beneficiaries.
