Client Case Study: Different Circumstances Require Different Estate Plans

Recently a young couple, recently married with a 1 year old child came to us as they wanted to create a plan which would protect their child and her assets if they were both to pass away by naming guardians and also a Trustee to manage the child’s money. We were able to lay out guidelines for the child’s trust and also decide at what ages the child could demand money from her trust. Additionally we wrote the trust in a way that will grow with their family, so if they have another child they do not have to come to us for changes. The trust will naturally evolve to include the other child or children. Of course, we can also make changes to guardians or distributions if the clients choose, but it will not be required.

Another client of ours is a single Mother with two grown children. One of her children is married with a career and the other is working through some difficulties. We put together two different plans for the kids: One child gets his money outright with no questions asked. The other will get a trust which will be managed by a third party. He will have access to money for health, education, support, and maintenance but will also have a trustee on his side to ensure he is taken care of but doesn’t spend money where it isn’t best spent. The Trustee will have the ability to terminate the trust down the road if and when that makes the most sense for the son.

These are a few examples of different types of clients with different types of needs, finances, and circumstances. We’re happy to serve clients with different levels of estate plan complexity in different chapters of life. Click here to schedule your consultation.