When leaving money and property to minor children, even the best intentions can lead to problems.
Many parents assume that a simple will is all they need since that is where they can nominate a guardian for their minor children. However, a simple will requires that beneficiaries (even children) receive their inheritances outright in one lump sum. While most parents would prefer that their children receive an inheritance gradually, perhaps at certain ages or milestones. Instead, once your child becomes an adult, the law requires the inheritance to be handed over in a single lump sum with no strings attached.
A better option is a trust, which allows you to name someone to manage the inheritance and decide when and how your children will receive their inheritance.
Let us create a plan that works exactly as you intend. Call to schedule an appointment today.
