Bulletproofing an Heir's Inheritance

In these troubling economic times when bankruptcy filings are increasing and people are struggling to keep their head above water, there are things that one can do now in your estate plan to protect those whom you wish to benefit in the future. Leaving an inheritance outright to someone is the equivalent of saying that all the creditors of that person can share in the inheritance. If the inheritance is substantial enough, one can create a "spendthrift" trust that makes the heir's inheritance immune from the claims of the heir's creditors, predators and spouses.

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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.

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