Personal Asset Trust: An Extra Layer Of Protection by: Allyson S. Heller
Most living trust beneficiaries receive their inheritance “outright,” meaning it is distributed from the trust directly to them, so that they effectively own the inherited assets. Unfortunately, by “owning” their inheritance, your beneficiaries are then needlessly exposed to the claims of spouses in divorce, creditors, lawsuits, the loss of government needs-based benefits and potential estate [...]