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In yesterday's WSJ there was an article about people setting up trusts to recieve inheritances from their parents. The children would then have to talk to their parents and ask them to amend their will to leave their assets to the trust, instead of directly to the child. Awkward and maybe presumptuous.
However, if you are doing estate planning and looking at leaving assets to your children, it may make sense to leave them the assets in a trust, especially if your children are young or you are concerned about the children's creditors, spouses, etc. The trust would be a spend thrift trust which under most states laws would bar your children's creditors from taking the trust assets.
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Do not rely on the information provided--my posts are not to be taken as legal advice. Needless to say you must consult with your legal representative. I am not responsible for errors. If I offended you with cya I apologize. If I did not, I tried.
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