WAEstate

Sacramento Estate Planning Attorney

Call Now: (916) 437-3500

Getting Started
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube
  • Home
  • Our Firm
    • About Our Firm
    • Meet Our Team
  • Estate Planning
    • Estate and Gift Tax Figures
    • Estate Planning
    • IRA & Retirement Planning
    • LGBTQ Community
    • Legacy Planning
    • Medi-Cal
    • Pet Planning
    • Special Needs Planning
    • Trust Administration and Probate
    • Veteran’s Benefits
  • Elder Law
    • Alzheimer’s Disease
    • Caregiver Information
    • Hospice Care
    • Medi-Cal Planning
    • Nursing Home Planning
  • Communities We Serve
  • Seminars
  • Reviews
    • Our Reviews
    • Review Us
  • Resources
    • Articles
    • Definitions
    • Estate Planning Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
      • Trust Administration
    • Estate Planning Techniques
    • Elder Law Reports
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Elder Law
      • Estate Planning
      • Estate Planning FAQ’s
      • Frequently Asked LGBTQ Estate Planning Questions
      • Frequently Asked Questions – Elder Law Issues
      • Frequently Asked Questions for Families Without an Estate Plan
      • Medi-Cal
      • Probate and Trust Administration
      • Trust Administration & Probate Frequently Asked Questions
    • Free Seminars
    • Is Your Estate Plan Outdated?
    • Presentations
    • Probate Resources
      • Colfax Probate
    • Veterans Resources
  • BLOG
  • Contact Us

Protecting Your Kids' Inheritance From Their Creditors

August 10, 2012 by Timothy P. Murphy Leave a Comment

If one or more of your children have accumulated a lot of debt, you might hesitate to give property to those kids in your estate plan. The property might well end up in the hand’s of a child’s creditors, so many people think it better to give the property to another family member. However, you can leave assets to an indebted child without fear that creditors will get it all.

A spendthrift trust is specifically designed for this type of situation. You can fund the trust with the money and property you would have otherwise given the child outright. A third-party trustee is appointed to exercise control over the assets in the trust and how they are disbursed to the child. The indebted child only receives the money he or she needs and only when it is needed. If the child has no control over the trust assets, then creditors cannot reach those assets, even if the child is the sole beneficiary of the trust.

Talk to an experienced and qualified estate planning attorney about protecting your estate from your children’s creditors and whether a spendthrift Trust is appropriate for your situation.

  • Author
  • Recent Posts
Timothy P. Murphy

Timothy P. Murphy

Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
Timothy P. Murphy

Latest posts by Timothy P. Murphy (see all)

  • Your Estate Plan: Get It Into a Writing or Else - December 7, 2019
  • What Should I Do If I Receive a Crummey Notice? - December 5, 2019
  • Estate Planning for the Single Parent - December 3, 2019

Filed Under: Advanced Estate Planning, Asset Protection Planning, Parents of Minor Children Tagged With: Advanced Estate Planning, Asset Protection Planning, Estate Planning for Adult Children, Estate Planning for Children, Estate Planning for Parents of Minor Children, Estate Plans that Work

Other Articles You May Find Useful

Northern California Center for Estate Planning and Elder Law
Estate Planning: Essential for Small Business Owners
Northern California Center for Estate Planning and Elder Law
Ins and Outs of Inheriting an IRA
Northern California Center for Estate Planning and Elder Law
Do I Need an Estate Plan? I’m Not That Old
Northern California Center for Estate Planning and Elder Law
An Update On ABLE Accounts
Northern California Center for Estate Planning and Elder Law
Trusts — Irrevocable Versus Revocable
Northern California Center for Estate Planning and Elder Law
Let’s Talk About Charitable Trusts

Leave a Reply Cancel reply

You must be logged in to post a comment.

Download our free estate planning Worksheet

Plan For Your Future and Protect Your Legacy Download our Estate Planning Worksheet to get started!
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Upcoming Seminars

    There are no seminars scheduled at this time. Please leave your name and email and we will let you know when our next one is scheduled.
    • This field is for validation purposes and should be left unchanged.

SACRAMENTO

2277 Fair Oaks Blvd., Ste 320
Sacramento, CA 95825-5599
United States (US)
Phone: (916) 437-3500

ROSEVILLE

3017 Douglas Blvd., Ste 300
Roseville, CA 95661
United States (US)
Phone: (916) 437-3500

MAP

norcalplanners_sidbr_map

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM
footer-logo
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

The information on this Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Northern California Estate Planning Firm. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

© 2019 American Academy of Estate Planning Attorneys, Inc.