Why Living Trusts are Failing in California (Part 1)
Why Estate Planning With A Living Trust Is Critical For Minor Children
Seminar attendees have been astounded to learn that everything they have done to create a Trust estate and an inheritance for their children or heirs can be undone after their death. That's right, it can all be substantially changed to thwart their objectives. They are found in almost any Trust and if not fully understood or explained by the Attorney who drafts the Trust, the consequences can be devastating. We commonly see their ramifications in Trusts that include blended families, but can also have the same results with traditional families.
Take a look at the beneficiary distribution provisions of your Trust. If they conclude with the terminology, "outright and free of Trust," there is no asset protection for your beneficiaries, usually your children.