Descendant's Separate Trust Article for Professional Clients

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Several professional clients, such as Doctors and Attorneys, have high hopes and aspirations for their children to follow in their footsteps. Though many children do not eventually enter their parent's fields of practice, they are typically well-educated. Parents of these children want to reward them for academic achievement, and do so in the form of gifts if they are alive, and Trusts is they have passed away.

The attached Descendant's Separate Trust article is meant to (1) pay for a child's health and education, (2) give financial incentives to graduation from higher learning institutions, (3) pay for wedding, (4) distribute funds gradually, and (5) protecting the child from future marital claims.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Daniel Timins, Timins & LaMagna, LLP | Attorney Advertising

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