HOW DO I PROTECT MY CHILDREN'S INHERITANCES?
The best way to protect your children's inheritances is by setting up a Revocable Living Trust and having your children receive their inheritance within a sub-trust of your Revocable Trust. This allows for your child to receive their inheritance within Trust and as a result protects their inheritance against creditors, divorce, and lawsuits.
With a Last Will and Testament, assets that you leave to your children are distributed to them outright. This means that when they receive their inheritance they deposit it into their own personal bank account and as a result it becomes exposed to any creditors, divorce proceedings, etc. If you want to ensure that what you pass on is protected the best way to protect yourself and your family is by setting up a Revocable Trust.
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