Pennsylvania Estate Planning Lawyer & Attorney : Jakubik Law Firm : Serving Philadelphia, Chestnut Hill, Mt. Airy

The New York Times recently ran the following article on the growing popularity of so-called dynasty trusts. These vehicles provide a means for enabling families to keep valued assets within the family for multiple generations, and to protect their assets from dissipation via the mismanagement of future generations, or the claims of their heirs' creditors. Read the article from the Times in full below the fold. Your estate planning attorney can assist you in determining whether such a vehicle might be of benefit to you,

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Crain's Cleveland Business reports that estate planners are seeing an increase in the number of clients who are asking about the use of so-called "incentive trusts" as a part of their estate plans. Such trusts are designed to place restrictions on the distribution of funds to heirs, ordinarily tying such distributions to certain life benchmarks, such as finishing college. Whether such trusts are advisable is, of course, a function of the individual client's circumstances and desires. Trusts may be used, moreover, to help insulate family assets from unfortunate events that may be beyond your heirs' control, such as liabilities arising from accidents or unsuccessful investments, or divorce settlements. Discussion of these issues should be a part of the planning process for all clients. Its your family, and your legacy.

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