When A Beneficiary Faces Addiction Or Other Problems

Estate planning needs to consider the person who will receive the inheritance. Does your beneficiary have financial problems? Will he or she be mature enough to handle the money? Does your beneficiary face challenges such as addiction or gambling?

The attorneys of Chandler and Brown, Ltd., can help you protect the assets you provide to a beneficiary. Our law office is in St. Paul, and our lawyers serve families in Minnesota and Wisconsin. Call us at 651-964-6087 for a free initial consultation.

Creating A Trust For Your Beneficiary

Providing an inheritance to a family member with financial problems may end up being a gift to his or her creditors. For a beneficiary with an addiction problem, a large outright bequest can be dangerous. Ultimately, it can lead not only to the wasting of assets, but also to the wasting of a life.

Trusts are powerful estate planning tools that allow you to protect the assets you provide to your beneficiary. Spendthrift trusts, addiction trusts and beneficiary discretionary trusts are all ways to protect the wealth you transfer from your beneficiary's creditors, predators or from themselves. You may set goals and conditions for the awarding of assets.

Our law firm can both establish a trust for your beneficiary and provide insight into the appropriate trustee selection. You may also appoint a trusted family member to serve as trustee.

Schedule A Free Consultation About Beneficiary Trusts

To discuss discretionary trusts as a way to protect your beneficiaries, call 651-964-6087 to arrange a consultation with one of our attorneys. You can also reach our office online.