Addiction statistics across the country are alarming. Approximately 142 Americans die every single day from a drug overdose. It’s also expected that over 650,000 people will die over the next ten years because of opioid overdoses. If you have someone in your family who is addicted to opioids, you will need to take special care and consideration as it relates to passing on assets.ย 
Tax planning has been the primary focus for estate planning for many years. Many people have been able to avoid taxes and other risks upon death by making use of legal strategies and tools. However, an addict, which is becoming an increasingly common component for many American families, can put additional financial and emotional strain on a family. Someone in this position may be fearful of an addict’s violent or unpredictable behavior and many families may already be facing significant conflict over the issue.
Some of the estate planning options available include an outright bequest, disinheritance, distribution of funds to siblings to assist the addicted beneficiary and trust planning in which a trustee is equipped only to take certain actions for the benefit of the beneficiary. Talking to a knowledgeable estate planning attorney in Pasadena is the best way to have a plan of action in place to avoid the negative consequences of having an opioid addict in your family.
