Estates, Trusts, Asset Protection& Business Planning Law Firm
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How do I make sure my assets won’t go to my child’s spouse?
You can set up continuing trusts inside your revocable trust that spring into existence upon your death. By assigning your assets to the continuing trust or trusts, you can segregate the assets you leave your child as a separate property asset. The main issue with outright distributions at death is that most people end up commingling the assets left to them with their spouse. This can result in your assets going to your child’s spouse upon death or divorce (instead of to your grandchildren). This same type of planning can be done inside irrevocable trusts used for Medicaid planning and for high net-worth planning for future generations.