Incentive Trusts – Tailor Your Trust To Your Beneficiaries
One Of The Greatest Things You Can Do For The People You Love Is To Get Your Trust & Estate Plan Correctly Done
Besides making the grieving process more about grieving and not about courts and probate, getting your plan done correctly can help you to have some influence on your family members’ decisions, even when you are gone.
What Do We Mean?
Let’s say you have a granddaughter who is struggling with addiction issues or serious rebellion. You want to help her become a strong responsible adult. You know if something happened to you and she inherited any money at all, the worst possible decisions are likely to be made. Because trusts are tools that can be changed and crafted to fit specific needs, you can create your trust with the idea of attempting to elicit the best behavior and decisions from your granddaughter.
These kinds of trusts known as incentive trusts are used to encourage good behavior or achievement of certain goals such as achieving a certain level of education or performance or requiring a drug free testing regimen. The trust may stop the distribution of cash to the granddaughter if and when she fails or refuses to complete the required behaviors.
We can help with these kinds of trusts to ensure that you can have peace of mind in knowing you have set up incentives for when you cannot be around to offer your help or advice.
One Of The Greatest Things You Can Do For The People You Love Is To Get Your Trust & Estate Plan Correctly Done
Besides making the grieving process more about grieving and not about courts and probate, getting your plan done correctly can help you to have some influence on your family members’ decisions, even when you are gone.
What Do We Mean?
Let’s say you have a granddaughter who is struggling with addiction issues or serious rebellion. You want to help her become a strong responsible adult. You know if something happened to you and she inherited any money at all, the worst possible decisions are likely to be made. Because trusts are tools that can be changed and crafted to fit specific needs, you can create your trust with the idea of attempting to elicit the best behavior and decisions from your granddaughter.
These kinds of trusts known as incentive trusts are used to encourage good behavior or achievement of certain goals such as achieving a certain level of education or performance or requiring a drug free testing regimen. The trust may stop the distribution of cash to the granddaughter if and when she fails or refuses to complete the required behaviors.
We can help with these kinds of trusts to ensure that you can have peace of mind in knowing you have set up incentives for when you cannot be around to offer your help or advice.
