Jamie Graham & Associates, PLLC

Why you should consider leaving trusts to your adult kids

If you have adult children in the San Antonio area you want to leave an inheritance to, you might want to think twice about it. Your children are not as mature as you are. Also, they might not be as financially responsible as you would like them to be. It took you years to accumulate your wealth. If you do not want to entertain the possibility of your loved ones squandering it away, you should consider leaving their inheritances in trusts

Your loved ones may have certain ideas about what they plan to do with their inheritances. Their choices may not be in the best interest of wealth preservation. Here are a few reasons why you might want to put their inheritances into trusts for them. 

Establish disbursement parameters 

You can set rules with trusts. You might not live long enough to see your adult children become responsible enough to manage your assets. Though you can assess your children’s financial acumen and level of maturity now, attaching their inheritances to trusts can help you to preserve the money and keep them from mismanaging it. You can limit the disbursement of funds or place a trustee in charge of it. 

Prevent mismanagement 

Do you have concerns about your adult kids and substance abuse, spendthrift friends and other lifestyle or personal behaviors that could interfere with their ability to properly manage the assets? You can have the trustee limit or pause the release of funds until the beneficiary is responsible and healthy enough to resume receiving them. 

Thwart greedy ex-spouses 

You can use trusts to protect your kids’ inheritances from their spouses. You never know if and when divorce will strike. If you die, and one of your adult children goes through a divorce after receiving an inheritance, the ex-spouse may try to claim a share of it. However, if you leave your child a trust, the assets attached to the trust do not fall under marital property and are not subject to division. 

Before revising your estate plans to include trusts for your loved ones, speak to an attorney. A lawyer can provide you with suitable strategies to protect your wealth and your kids’ inheritances.

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At Jamie Graham & Associates, PLLC, we have received a variety of honors and awards for our family law services. Members of our team have been listed as Top Lawyers in San Antonio Scene magazine. We take pride in the number of positive reviews we have received from satisfied clients. On AVVO, a lawyer rating website, we have received an 8.9 rating overall and many positive ratings from clients and colleagues.

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Jamie Graham & Associates, PLLC
310 South St. Mary's Street
Suite 2500
San Antonio, TX 78205

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