IdahoProbateLawVideos.com You have worked hard to build yourself a nest egg for yourself and your family. But without proper planning the majority of your estate can be lost to the government and other entities. If you plan on giving any of your estate away to your children it is imperative to have a proper estate plan in place. In this video Susan Graham, a Idaho Attorney, gives an overview on How You Can Protect Your Children's Inheritance. Protecting your children's inheritance is easy; you just have to plan ahead. One of the things you can do is place the assets in an irrevocable trust; also known as an inheritance trust, heritage trust, dynasty trust or legacy trust. A trust is funded when someone passes away. The child can be their own trustee. The assets are protected from law suits, divorce, creditors, and bankruptcy. If there is money left over in the trust when they die, then the trust goes down to the grandchildren. As long as the money stays in the trust it is protected. The money in the trust can be used for whatever investment the child wants; real estate, stock market, business, etc. The money can also be pulled out of the trust to be used for personal uses as well but it is no longer protected by the trust. Buy a car, trip, and pull it all out and use it. That would not be smart, because the parents spent a great deal of time and money to create this trust. Again, advice from a capable probate lawyer is essential when planning an inheritance. http
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