Spendthrift Planning
For most people, their estate is their legacy, and the assets they leave behind
are an indication of those they held close during their lifetimes. As a result,
many people struggle with the conflict of leaving assets to a person who, while
beloved, may lack the sort of skills necessary to manage the assets that would be
left to him/her. This is where spendthrift planning can come in. Many states allow
a person who is creating their estate plan to include language in their planning
vehicle that leaves money in trust for a beneficiary, rather than leaving it to
them outright. As a result, you may have the option to leave assets to someone without
having to fear that the beneficiary will be unable to handle them (because, in fact,
they won't be handling them!)
To learn more about if spendthrift planning can help you, you should consult a qualified
attorney licensed in your state.
This Web site is intended for general information purposes only. It does not nor is it intended to constitute legal, tax or investment advice. United Financial Systems, Corporation is not a lawyer, registered investment advisor or investment advisor representative, and is not engaged in the practice of law or the business of investment advice.