Your estate plan should address many of the following family maintenance and protection issues:
- Who could best serve as guardians for minor children, providing the necessary care, love and nurturing environment;
- How could “continuing trusts” be utilized to safeguard inheritances for minor beneficiaries or other beneficiaries who lack the ability to manage their inheritances;
- Addressing issues unique to the elderly (Elder Law)
- How can inheritances for adult beneficiaries be held in trust so as to protect them from potential future divorces, lawsuits, creditors and predators;
- What types of activities, life styles, work ethics, etc. do you desire to incent;
- How can you minimize the potential risk of “affluenza” or “sudden wealth syndrome” for beneficiaries who are going to receive sizeable inheritances;
- What if the intended beneficiaries have (or may develop) “special needs” or disabilities.