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!

Examples of Estate Planning Protecting Your Heirs.

Posted on Wed Dec 19, 2018, on Estate Planning

From Our “Ask a Question” Mailbag: “Please give me Examples of Estate Planning Protecting your Heirs.”

Examples of Estate Planning Protecting your Heirs

Protect Your Heirs

Examples of Estate Planning Protecting Your Heirs:

  • Example of an Education Trust Protecting Your Heirs.

    Mrs. Philadelphia wished to make sure her Grandchildren had enough money to pay for college. She instructed her Estate Planning Lawyer to include an Education Trust in her Will.  At her death, her executor funded the trust.  The Trust’s terms limited the money’s used to paying only college tuition directly to the institution.  Mrs. Philadelphia’s daughter, Mrs. Fishtown, wanted to use the inheritance to purchase furniture and light fixtures for her new Delaware Riverfront home, which would have left Mrs. Philadephia’s grandchildren without any funds for education. The trust prevented Mrs. Fishtown from depleting the trust, and the trust provided Mrs. Philadelphia’s grandchildren tuition for their education.  Follow this link for more information about Education Trusts

  • Example of a Dynasty Trust Protecting Your Heirs.

    Mr. Philadelphia had his Estate Planning Lawyer draft a Will that formed Dynasty Trusts for his descendants.  At his death, his estate poured into equal trusts, one for each child.  His son, Philly, was involved in a divorce. Because of the funds being in the protective trust, they were not included as Marital Property.  His daughter, Mrs. Washington Square, died soon after subject to many creditors claims. The money in her trust continued in trust for her children, sheltered from her creditors’ claims. Follow the link to learn more about Dynasty Trusts.

  • Example of a Pet Trust Protecting Your Heirs. 

    Mrs. Rittenhouse had her estate planning attorney include in her Will a Pet Trust.  At Mrs. Rittenhouse’s death, her trusted friend found her dog Quaker a new home close to Rittenhouse Square, so Quaker still played with his friends and had the same dog walker. The trustee provided funds for Quaker, so he had insurance, was well fed, and visited the same Veterinarian.  Follow this link to learn more about Pet Trusts.

  • Example of a Special Needs Trust Protecting Your Heirs. 

    Mr. Philadelphia’s son Philly is autistic and eligible for needs-based government benefits. At his death, Mr. Philadelphia wishes to provide for his son but does not want to disqualify his son from his needs-based benefits. Mr. Philadelphia’s Estate Planning Lawyer incorporates a Special Needs Trust into his Will.  The funds in this trust are available for Philly’s care but do not disqualify him from government-provided needs-based benefits.  Follow this link to learn more about Special Needs Trusts.

In Conclusion: Examples of Estate Planning Protecting Your Heirs.

I hope these Examples of Estate Planning protecting your heirs were useful. We are always happy to brainstorm with you about your own, unique situation. 

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:

Dynasty Trust, Education Trust, Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, Special Needs Child, Special Needs Estate Planning, Special Needs Planning Attorney

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

Ellen G.

I have had Peter Klenk prepare and revise my will. Always professional, knowledgeable and offers great advice. Highly recommend

Klenk Law Logo
Stars

D.P.

Like another reviewer, I contacted Peter through his website using the free consultation link, for a question regarding PA inheritance taxes. The question was quite technical and difficult to explain, and the answer was nowhere to be found on the web. Peter grasped precisely what I was asking, and provided a clear, helpful response (with a touch of humor) the very next day.

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

Qiana Wright

Great friendly staff

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!

Let us put our expertise to work for you.

Free consultation within 24 hours.