Скачать или смотреть Asset Protection Case Study: Options to Fix Old Bad Trust

Mom set up a trust for her children but that trust pays out all assets to the children outright when they reach age 25. Mom finally realizes that the assets she is gifting to her children should be protected better. What can be done? Since the trust is irrevocable it cannot simply be voided and the plan started over from scratch. What can be done? There is a continuum of options to consider. The trust could be merged into a new trust that continues for as long as possible. Keeping the assets in the trust will protect them. The new trust could have the child as a trustee (but distributions the child makes to themselves has to be limited). The child could be a co-trustee with an independent trustee. A safer option may be to name an institutional trustee. For even better asset protection the trust might be decanted (merged) into a new trust located in a state with better trust asset protection rules.

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