Inheritance To Minors - Staggering A Trust

If you are considering leaving an inheritance to minor beneficiaries you will need to plan carefully as property left to minors will most likely be subjected to some kind of court-supervised guardianship or other restrictions placed upon their account by a judge or state law.

One option you can plan for is to leave assets in stages by using a staggered trust. This way you can pay out the beneficiary in one or more stages when they reach certain ages or achieve a goal, such as graduating from college. And the property held in the trust can be used for education, medical, and housing expenses.

One drawback of using this kind of trust is that the additional costs of accounting and legal costs to administer the trust during it's term. So, it is a good idea to weigh the value of the trust assets against the amount it would cost to distribute it in this way.

For more information on setting up a staggered trust contact a professional estate litigation Attorney.

*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.

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