Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Can a Trust Protect An Inheritance of an Expensive Watch Collection?

Posted on Mon Oct 10, 2016, on Trusts

From Our “Ask a Question” Mailbag: Can a Trust Protect a Collection?

Most Recently Updated August 9, 2018.

“Over the years I have put together an extensive watch collection.  My wife and I recently had a son, and I wish to leave him the collection.  Is it possible to leave him the collection in Trust? Can a Trust protect a collection inheritance?”

Can a Trust Protect a Collection

Yes! Pennsylvania and New Jersey have both in recent years passed trust acts that allow residents to form flexible, protective trusts for inheritances. Therefore, You can certainly leave your son the watch collection in Trust.  In fact, you should leave him his inheritance in Trust.

Visit my website for more information about Irrevocable Trusts.

A Trust to Hold an Inheritance Provides Protection. 

The world can throw your son a lot of curve balls.  Luckily, in both New Jersey and Pennsylvania it is relatively easy to craft a Trust to hold an inheritance that provides protection from some of these potential problems. This includes protection from divorce and creditors.  Further, a Trust can help make sure a legacy stays in the family.  For example, a Trust can hold the inheritance and require that at your son’s death, the watches pass to your grandchildren.  The Trust can also allow your child to modify or end the Trust.  Depending on how much flexibility you wish to give your son, the Trust can also be easy to manage and almost cost-free.

The Protective Trust Can Be Easy to Manage and Inexpensive. 

I can draft a Trust in many different ways to address a multitude of situations.  While some cases require a corporate trustee and much oversite, others require little involvement and low cost.  Therefore, I could prepare a Trust to address your concerns and your circumstance.  Let’s brainstorm ideas!

More Planning Questions?

The protection of a collection is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.

In Conclusion: Can a Trust Protect a Collection

I hope that this article was helpful in explaining collection protection. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!

Tags:

Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, Irrevocable Trust, Kelly Barse, New Jersey, Pennsylvania, Trusts

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

Chantee C.

Peter recently gave a presentation about Wills & Trusts at my employer, and it was fantastic! He was extremely knowledgeable and provided valuable information to the group. People were very engaged and asked several questions, all of which Peter thoroughly answered. Personally, my husband and I have selected Peter to help us with our estate planning, and he has been very helpful in providing us with all of the information we need to provide a secure future for our family. Thank you, Peter!

Klenk Law Logo
Stars

Chris B.

AWESOME LAWYER! Peter Klenk is an exceptional attorney and a very nice person! Today I spoke with Peter about estate planning and was impressed with by his professionalism, cordiality, and attention to detail. I highly recommend Klenk Law for probates, wills, trusts, and other issues germane to estate planning!

Klenk Law Logo
Stars

Klenk Law is an exceptional practice. Their fine lawyers and staff team up to produce excellent results for their clients. They excel at explaining the often cryptic laws and policies that govern estate planning right down to the complexities of the various "trust" frameworks. Peter himself manages each client together with his great team, and he has a rare quality to be both a walking encyclopedia of planning minutia and also one of the most likable lawyers I have ever had the pleasure of dealing with. He is truly generous in intellect and in his personal approach to getting the "big picture" for complex family structures. I trust him implicitly to help me make the right choices for the future. In short, Klenk Law is a gem of a firm.

Klenk Law Logo
Stars

Brandon. L

Peter was excellent. He explained everything very clearly and is super friendly. My wife and I originally tried using a lawyer through group legal coverage, but unfortunately the old adage - "you get what you pay for" - applied to the other lawyer, and we decided to go with a real professional.

Klenk Law Logo
Stars

MJG

Affable...yet surprisingly cerebral estate planning atty. High marks all the way around.

Let us put our expertise to work for you.

Free consultation within 24 hours.