How To Infuse Your Estate Plan with Your Values

Incorporating all of your estate planning documents is the foundation of determining what you want to happen to your property after you pass away. But estate planning is also about so much more. If you want to promote your values after you’re gone, you may choose to put a part or all of your estate inside a trust with specific directions around how the funds can be used.

There are many different reasons why you may want to maintain a level of control over the inheritance, such as to protect an adult child who struggles with finances.

A trust’s term may allow a trustee to hold and invest assets for later distribution of income from the trust or the principal balance, leaving the trustee with the sole decision-making power on how the beneficiaries’ education, health support and maintenance can be enriched.

In those situations, you may enable your trustee to have discretion over how to make distributions for those you care for. You’ll need to speak with a qualified estate planning attorney to discuss your options, but you may include some of the following choices:

• Encouraging a beneficiary to earn a college degree by providing that the trustee is able to pay expenses, fees and tuition for accredited universities or colleges.
• You may encourage employment by saying that funds can only be distributed to match earned income for a percentage of someone’s earnings.
• If you wish to encourage someone’s entrepreneurship, you may allow trust funds to be loaned out for that purpose.

There are many different options available to you in establishing a trust so that you can have control and also peace of mind over how these assets are distributed. Contact an experienced estate planning attorney today to learn more about your options and to get started. Our Pasadena estate planners know how to create custom plans that address your needs and help you navigate the shifts of life.

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