People understand why minor children and young adults shouldn't inherit property outright. Someone with more maturity and experience needs to manage the assets and make spending decisions. So inheritances are typically left in temporary trusts until they attain a certain age (say, 30 years of age). Then the assets are distributed outright to the beneficiary.
But there are compelling reasons to not provide for outright distribution to adult children, even if they have good judgment. You can give your adult child the gift of asset protection, because bad things can happen to anyone. We offer the Personal Asset Trust (the "PAT").
Consider the risks that anyone can face:
High-Risk Profession or Business:
When a Beneficiary is Not Good At Handling Money:
A Beneficiary Who Has Drug or Alcohol Problems:
Want to Learn More About Asset Protection for Your Beneficiaries?
Giving your adult child the gift of asset protection against judgments, creditors, divorcing spouses, and etc. is a powerful legacy. If you want to learn more, set up a free initial consultation at our Beverly Hills or Calabasas offices or complete the form on this page to ask us any questions you have.