Many people aspire to leave an inheritance for their children. It is perhaps
a chance to help your children start a business, save for retirement or
achieve a dream. No matter how large or small the inheritance may be,
the hope is that the inheritance will be available for the purpose you
have in mind. The hope is not that the inheritance will be lost in a divorce
or squandered due to an addiction.
A trust can provide the safety net you need to protect your children’s
inheritance for the dreams you hope it will provide. It may be hard to
imagine that giving your children their inheritance in a trust is better
than giving it to them outright. It is natural to think that a gift with
strings attached isn’t really a gift. However, the protection that
those strings provide make it in actuality, the most thoughtful way to
leave a gift.
You can allow your children anything from total control over the trust
strings to no control over the trust strings, depending upon which protections
they need. You can even leave a gift that keeps on giving through multiple
So, as you plan for your children’s inheritance, don’t hesitate
to consider the advantages a trust can provide. A trust can give both
you and them the peace of mind that comes from knowing that their inheritance
can remain safe even if the dreaded “what if” happens to them.