When you are thinking about passing on your assets to your future generations, it’s natural to want to give as much as possible. In fact, many parents and grandparents confronting estate planning for the first time are thinking about the strategies they can take to enhance the value of their estate as much as possible while minimizing the potential risks for future generations.

Passing on greater assets to future generations can be very powerful, but it might not be the right choice if you are concerned about your child or grandchild’s ability to inherit a large sum of money and spend it properly. This is particularly true if you have a child who is not financially responsible or one who may struggle with addiction issues.

Using a trust or other vehicles to help protect those assets can make things easier for you by giving you peace of mind and make things easier on your loved ones as well. When considering a trust for the first time, you might all the options overwhelming to confront. That’s why many people ultimately opt for sitting down with a lawyer in Pasadena to talk through the options. Some trusts give you more or less control than others, but all have unique benefits and features that should be discussed.

The right estate planning lawyer should be retained to carry out this strategy so that you know exactly what you’ve chosen and so that you can properly fund it.

 

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