Archive for July, 2010

Estate Family Battles

July 10, 2010

No matter how close the family, money problems of a family member could upset an entire estate plan.

For example, the Settlor wants to leave the remainder of the estate to her children to be divided equally upon her death.

However, one of the children during the Settlor’s lifetime runs into financial difficulties.  The child turns to the only source he or she can think of to get out of the jam, the Settlor.

In most cases the Settlor is elderly, loves the children equally, but the Settlor does not have the heart to tell this needy child no.

Creative trust drafting can solve this problem.

For example, the trust can be written to provide loans to a beneficiary who needs the money now, versus later. The trust can provide for either a no interest payback or early distribution if the estate funds are sufficient.

If you are concerned about this type of problem, or if you have other concerns, contact the Law Offices of Lawrence H. Nemirow at 562-799-1379 or visit our website at  www. nemirowlaw.com or contact your local trust attorney.

It is always better to anticipate and minimize future problems now to avoid a family battles in the future.