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How do I shelter money I will leave my son from my future daughter-in-law in Florida?

Posted on Mon Aug 31, 2015, on Revocable Trusts and Living Trusts

From our “Ask a Question” Mailbag: Sheltering a Florida Inheritance with a Revocable Trust

Most Recently Updated July 20, 2018.

“My son refuses to get a prenuptial agreement, how do I shelter the money I will leave him from my future daughter-in-law?”

Sheltering a Florida Inheritance with a Revocable Trust

Sheltering a Florida Inheritance with a Revocable Trust

If your son refuses to protect himself, you have other options to protect the money you leave him. Instead of leaving him his inheritance outright, through your will or Revocable Living Trust you can form a protective trust to hold his inheritance. This irrevocable trust can be drafted to allow your son to serve as the trustee with broad rights to use the trust assets for himself, all while keeping the assets sheltered during and after a potential divorce.

You have to be honest with yourself. If your son is the trustee, then he will have the power to remove the assets and get them to his new wife. If you feel that he would do this, then it would be best to name someone else as trustee. This person might charge a fee, but that fee will be worth paying if your concerns about his future wife prove correct: the money will be sheltered to give him a nest egg for his future.

More Planning Questions?

The 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: Sheltering a Florida Inheritance with a Revocable Trust

I hope that this article was helpful in explaining how to shelter an inheritance with a trust. 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!

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Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, Florida, Revocable Trust

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Peter Klenk is the founding member of Klenk Law, a seven attorney boutique estate planning law firm. We serve clients in Pennsylvania, New Jersey, New York, Minnesota and Florida. Peter Klenk received his Masters in Taxation LL.M. from NYU Law School and his J.D. from the University of Minnesota Law School. He served his country in the Navy JAGC during Desert Storm. Easy to talk to, feel free to call Peter for an appointment. We will make the process as easy as possible!

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