From our “Ask a Question” mailbag: I have some very nice pieces of jewelry that I would like to make sure stays in the family, passing from oldest daughter to oldest daughter. Can I form a trust in my will to hold jewelry?
Yes, in your will, you can form a trust to hold almost anything. In the past, I have formed trusts to hold real estate, artwork, and even a rather unique chair. The trust’s terms can be crafted to suit your needs, including making sure your jewelry is held for the eldest daughter. Because New Jersey revoked the Rule Against Perpetuities, this trust could shelter your jewelry for as long as you have a living descendant. Pretty cool!
If you have any other questions about Trusts, feel free to contact our office for a free consultation.