Are there any other documents I might need in addition to what is provided in the Foundational Estate Plan?

Yes. What if your beneficiary does not manage money well or can be taken advantage of easily? Or if your beneficiary is a physician or other line of work that is vulnerable to lawsuits? We offer the Personal Asset Trust as a solution. It provides permanent asset protection for your loved one’s inheritance making those assets safe from the reach of creditors, judgements, and divorcing spouses. Someone you trust can be the trustee (manager) of your loved one’s trust if they don’t manage money well. See personal asset for further information.

What if a large part of your wealth is held in retirement accounts, such as an IRA? Upon your death it will “roll-over” to your designated beneficiaries. Your beneficiary can also enjoy tax-deferred, interest compounding throughout their lifetime unless they cash it out. That will result in the loss of perhaps hundreds of thousands of dollars and taxes will be due. We offer the IRA Inheritance Trust as a solution. That is, to prevent a cash-out by a beneficiary. This trust was approved by the IRS to hold retirement accounts. No other trust can own retirement accounts without giving up the tax deferred benefit. It also offers asset protection and the ability to name a trustee to manage it for a spendthrift beneficiary. See ira inheritance trust for further information.

What if a beneficiary has a disability and is dependent on government benefits such as SSI and Medi-Cal? If they were to receive an inheritance, it would render them ineligible. The solution is our Special Needs Trust. See special needs trust for further information.