Protecting Children and Heirs from Divorce and Litigation
Most people want to leave a certain amount of their assets to their children and their grandchildren when they pass away. However, your surviving spouse, children, grandchildren, and other heirs could have their inheritance assets subject to claims that may prevent them from inheriting the wealth that you worked so hard to accumulate. The claims could include divorce, lawsuit judgments, creditor claims, business claims, and other lawsuits. Usually, through no fault of their own, many families unknowingly take the risk that their children’s inheritance will be substantially reduced by this type of carelessness.
As many people already know, as has been reported in the media for years, over 50% of all marriages end in divorce. In addition, approximately 15% of people will only sign a prenuptial agreement if they are asked to do so. Therefore, if you are planning an estate with a will or a trust, or if you are expecting an inheritance, it is important to make sure that you and your heirs are protected from divorce and creditor risks.
Do you ever worry that one of your heirs or adult children may use their inheritance to buy a home, a second vacation, or other assets in joint names with their spouse only to have that asset seized in a divorce? Did you know that this can be avoided through the use of trusts and irrevocable trusts under a will?
In fact, there are many legal strategies and techniques that can be used to protect your adult children, grandchildren, and other heirs from judgments, divorce claims, creditor claims, and a variety of other claims against the estate. Daniel Perry assists his clients with asset protection through the pursuit of the following legal strategies:
Asset Protection Strategies
- Estate Planning with Wills, Trusts, and Other Legal Strategies
- Divorce Protection
- Asset Protection
- Grantor Retained Annuity Trust (GRAT)
- Qualified Terminable Interest Property (QTIP)
- Irrevocable Life Insurance Trust (ILIT)
- Qualified Personal Residence Trust
- Children Inheritance Trust
- Domestic Asset Protection Trust
Call Franklin, Tennessee Attorney Daniel Perry to Protect Your Children's Inheritance from Divorce, Creditors, Lawsuits, and Other Predators
When many people think of estate planning, they will rarely think of protecting their children's inheritance from divorce or other future creditors. However, 52% of marriages end in divorce and you are much more likely to experience a complete disability as opposed to an untimely death before the age of 50. Therefore, this is an aspect that every family should consider when it comes to their estate plannng strategy. Otherwise, your children run the risk of losing their inheritance to divorce claims, creditor claims, lawsuits, and other predators.
In you first meeting with Dan, he will ask you what you want to see happen to your assets, how you want to protect the wealth that you have accumulated, and then will propose a suggestion on the best way to accomplish those goals. At that point, and only at that point, will the finanacial arrangements be discussed regarding the proposed legal services. You will always leave every meeting with Dan and his team knowing, crystal clear, the legal services involved, the financial arrangement involved, and the time table for completion.
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Call Our Franklin, Tennessee Office Today at 615-490-0477 to get started!