Client Estate Plan and Administration
Jun 06, 2011OUTCOME: Protection of inheritance for beneficiaries
Created a trust-based estate plan for woman in her late 70's. It was intended to be temporary, because she wanted to make a more complex plan within two years to maximize the protection for her benefi ... ciaries' inheritances. We did it right away merely as a precaution while she took some time to get her finances better organized. Unfortunately, she passed away suddenly within one year. But the plan has worked to give basic creditor protection to the beneficiaries' inheritances in trust. One beneficiary is now in midst of a divorce and another has serious medical needs. The trust money cannot be taken by the ex-spouse in the divorce. The bills for the medical care are being monitored by the trustee, to be sure that insurance covers its share, and the trust pays the remaining costs. The beneficiary is left free to focus on recovery.
