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!

Revocable Living Trusts in PA to Protect Grandchildren Inheritance

Posted on Wed Jul 15, 2015, on Revocable Trusts and Living Trusts

From our “Ask a Question” Mailbag: Revocable Living Trusts in PA to Protect Grandchildren Inheritance

Most Recently Updated July 15, 2018.

“How do I make sure the inheritance that I leave my daughter passes to my grandchildren at her death?”

Revocable Living Trusts in PA to Protect Grandchildren Inheritance

Revocable Living Trusts in PA to Protect Grandchildren Inheritance

If you leave your daughter an inheritance outright, then-at her death-it will be available to satisfy any creditors or law suits she might have. It might even end up in her husband’s name, rather than passing to your grandchildren.

Instead, you can use your will or a Revocable Living Trust to form a protective trust to hold her inheritance. This irrevocable trust can be drafted to allow your daughter to serve as the trustee with broad rights to use the trust assets for herself and your grandchildren, while the assets are sheltered from a potential divorce, creditors and lawsuits. You also can state that, at your daughter’s death, any remaining assets remain in trust for your grandchildren’s benefit. If drafted properly, her creditors and husband would have no claim against these assets.

More Planning Questions?

The revocable living trust 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: Revocable Living Trusts in PA to Protect Grandchildren Inheritance

I hope that this article was helpful in explaining revocable living trusts. 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, Inheritance, Living Trust, Pennsylvania, Philadelphia, Revocable Trust

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

Jim Yannessa

A very friendly knowledgeable experience. I would recommend and use them again.

Klenk Law Logo
Stars

hinda schuman

very happy to deal with Peter Klenk law firm over many decades

Klenk Law Logo
Stars

David Major

Had our will done with Peter and his team. Made the process super easy and understandable. His team lead by Laura Parisi were always available for questions and assistance. Professional and personable they made what can be a challenging experience hopeful and graceful. Cannot recommend their services enough!

Klenk Law Logo
Stars

Tina Krovetz

Fantastically easy and efficient team to work with getting our wills done. We will use Klenk again in the years to come. I highly recommend Peter Klenk.

Klenk Law Logo
Stars

Bernadette Cucinotti

It's our first time doing business with Klenk Law and it was absolutely very positive. All interactions were timely and very professional. Peter and all of his staff put us at ease when making our estate plans and answered any questions thoroughly. We would highly recommend.

Let us put our expertise to work for you.

Free consultation within 24 hours.