• Why Choose
    Our Firm?

    We limit the number of clients that we have at one time, allowing us to focus on your case.

    Personalized Representation
  • Know the
    Benefits

    Find out if you and your family can benefit from our elder law planning services!

    More Information
  • Dedicated & Experienced

    Our firm exclusively handles elder law concerns so your family can obtain peace of mind.

    Meet Your Attorney
  • Complimentary Consultation

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Naming Your Children As Beneficiaries In Your Will Is Just Step One

For instance, let’s say that you have three children and you want to name them all as equal beneficiaries under your will. What do you want to happen if one of your children predeceases you? (I realize that this is a question that most parents don’t want to consider at all, but estate planning is a voyage into the world of “what if”). So, if one of your three children predeceased you, do you want his or her 1/3 share to go to his or her children OR do you want his or her 1/3 share to go to his or her siblings?

Do you want your three children to inherit outright (meaning the money is theirs to do with as they please as soon as they inherit it) or do you want them to inherit it with a protective wrapper called a trust? Depending upon how the trust is designed, it can provide protection from life’s unfortunate events such as a future divorce, disability or creditor problem.

Maybe your child is a lovely person but has terrible judgment with money and needs some guidance in deciding how to best utilize his or her inheritance. For a child who lets money run through their fingers like water, a trust can be a way to provide some structure and financial security.

One size definitely does not fit all when it comes to deciding how your children will inherit (even for children within the same family). So don’t stop with just naming your child as a beneficiary under your will; take the next step and really give some thought to what might be the the best way for each of your children to receive your legacy to them.

  • Why Choose
    Our Firm?

    We limit the number of clients that we have at one time, allowing us to focus on your case.

    Personalized Representation
  • Know the
    Benefits

    Find out if you and your family can benefit from our elder law planning services!

    More Information
  • Dedicated & Experienced

    Our firm exclusively handles elder law concerns so your family can obtain peace of mind.

    Meet Your Attorney
  • Complimentary Consultation

    Let us help. Request your consultation today and we will be in touch.

    Contact Us Now

Contact Us

Edwards Elder Law, P.A.
St. Petersburg Elder Law Attorney
Located at: 2510 1st Ave. N.,
St. Petersburg, FL 33713
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Phone: (727) 755-5808
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Disclaimer

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.