PROTECTING YOUR CHILD’S INHERITANCE WITH A TRUST
A Trust May Be An Effective Tool To Provide For Your Children
When you work with Ketlinski Law Office, PLLC, in Meridian, Idaho, I will review your overall financial structure and your individual estate planning goals and explain whether a trust is appropriate to protect your family. Many parents of minor children decide to create an estate plan to protect their minor children should the unexpected occur. A parent can nominate a guardian in a will to raise his or her minor children should the parent pass away. However, a guardianship generally does not address the management of a child’s inheritance. When significant assets, or real estate including the family home are involved, it may be appropriate to address the inheritance with a trust.
I help individuals understand the legal options that may be available to protect children under Idaho law, including:
- Creating a trust to manage a minor child’s inheritance
- Special needs trusts to protect the inheritance of a child with a disability
- Guardianships for minor children or disabled adult children
- Conservatorships to address financial decisions
Creating a trust for a minor child can allow a parent to select who will manage a child’s inheritance. You may want your child to attend college — a trust can be used to pay tuition. A parent may have concerns that a child may mismanage an inheritance at the age of majority and create a trust to manage assets into the child’s adulthood.