- Estate Planning
- Wills and Trusts Lawyers
- Purpose and Application of Trusts
- People with Beneficiaries Who Need Help
Wills and Trusts:
Trusts are popular among those with beneficiaries who can’t manage property well. This includes elderly beneficiaries or untrustworthy relatives. A discretionary trust gives the trustee freedom to give the beneficiary as much or as little trust as the trustee believes is appropriate.
Spendthrift trusts are also used in these situations. A spendthrift trust is a trust in which your instructions to the trustee carefully control how much money is released from the trust. This allows you to keep an irresponsible beneficiary from getting large sums of money at one time.