{"id":1730,"date":"2011-01-04T10:42:25","date_gmt":"2011-01-04T17:42:25","guid":{"rendered":"http:\/\/www.lichtermanlaw.com\/?p=1730"},"modified":"2017-11-19T21:12:46","modified_gmt":"2017-11-20T02:12:46","slug":"inheritance-protection","status":"publish","type":"post","link":"https:\/\/www.lichtermanlaw.com\/index.php\/inheritance-protection\/","title":{"rendered":"Inheritance Protection and Why Your Family Will Thank You"},"content":{"rendered":"

Inheritance Protection . . . what does that mean?\u00a0 Well, some recent conversations I’ve had and reading this article<\/a> have brought to light how unknown this very important estate planning strategy is.\u00a0 What if you could ensure that your beneficiaries (children, grandchildren, or other friends and family) would receive your the inheritance you provide for them in a way that could benefit them, yet not be open to creditors, predators, divorce, financial immaturity and lawsuits.\u00a0 Would you do it?<\/span><\/p>\n

Unless your “estate” is quite small (including life insurance), I generally recommend that you do just that.\u00a0 Why?\u00a0 Read the article linked above.\u00a0 Although there is no sure thing, I think it is quite likely that Mr. Martin’s story would be very different had he received his inheritance in an inheritance protection trust.\u00a0 The trust could have provided for his general needs (in the Trustee’s discretion) and still not be accessible by creditors, financial predators, divorce or lawsuits.<\/span><\/p>\n

I’ll leave you with one last example.\u00a0 I met with a couple some time back and when I mentioned inheritance protection, the husband said, “that must have been what my grandma did for my aunt.”\u00a0 Obviously, I wanted to know more and he was kind enough to share the story.\u00a0 It turns out that his grandma had set up inheritance protection trusts for her children.\u00a0 His aunt had approximately $500,000 in the trust for her benefit.\u00a0 And guess what?\u00a0 She went bankrupt!<\/span><\/p>\n

I know you are probably thinking, “great, what a waste of $500,000!”\u00a0 Not at all.\u00a0 Because Grandma had set them up as inheritance protection trusts, the trust assets were not part of the bankruptcy.\u00a0 Now if Grandma had set it up like the vast majority of people and attorneys do, that money would have gone outright to the aunt and she would have lost it!\u00a0 Is that what you want for your family? <\/span><\/p>\n

Michael Lichterman<\/a> is an estate planning attorney who helps families and business owners create a lasting legacy by planning for their Whole Family Wealth\u2122<\/a>.\u00a0 This goes beyond merely planning for finances – it’s about who your are and what’s important to you.\u00a0 He focuses on planning for\u00a0 the “experienced” generation, the “sandwich generation” (caring for parents and children), doctors\/physicians, nurses, lawyers, dentists, professionals with minor children, family owned business succession and pet planning – and he is privileged to do so from a Christian perspective.\u00a0 He takes the “counselor” part of attorney and counselor at law very seriously, and enjoys creating life long relationships with his clients – many of which have become great friends.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Inheritance Protection . . . what does that mean?\u00a0 Well, some recent conversations I’ve had and reading this article have brought to light how unknown this very important estate planning strategy is.\u00a0 What if you could ensure that your beneficiaries (children, grandchildren, or other friends and family) would receive your the inheritance you provide for […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,88],"tags":[],"class_list":["post-1730","post","type-post","status-publish","format-standard","hentry","category-estate-planning","category-multi-generational-planning"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts\/1730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/comments?post=1730"}],"version-history":[{"count":15,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts\/1730\/revisions"}],"predecessor-version":[{"id":3687,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts\/1730\/revisions\/3687"}],"wp:attachment":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/media?parent=1730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/categories?post=1730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/tags?post=1730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}