- Estate Planning
- Wills and Trusts Lawyers
- Purpose and Application of Trusts
- People Who Want to Control Their Property
Wills and Trusts:
Through a trust, you can have more control over a gift than you can if you leave an inheritance to someone in a will. Some people use trusts to pass on money to a relative when they do not trust that person’s spouse. If you believe that an untrustworthy spouse may irresponsibly spend the money, you can leave money for the beneficiary in a trust and include instructions that the beneficiary you choose should receive the income. This way neither the beneficiary nor the spouse can squander the principal. Depending on the divorce laws in your state, this may also prevent the irresponsible spouse from getting at the assets in the event of a divorce. An estate planning attorney can advise you on the best way to protect your assets and help you set up a trust that will meet your needs.