A #spendthrift #trust is one type of estate planning tool that should be considered when your looking to protect you’re money from creditors, avoid probate and make sure the beneficiaries don’t receive the transferable assets as one lump sum after death of the grantor. The spendthrift trust ultimately limits the assets available to the beneficiary and protects the rest of the assets still in the trust from creditors. The trust retains most of its assets, depending on how it is structured, for an extended period of time.

Read more in the article at:
[ Ссылка ]

Have any questions that weren't answered here? Let us know in the comment section!

Subscribe to BLTV for daily Learn About Law videos: www.youtube.com/channel/UCY4QhGg-zwgUIthoK3EdyjA

If you are in the Illinois, Iowa or the Indiana area, and would like to make an appointment with an attorney, O’Flaherty Law would be happy to help. If you would like to schedule a free consultation or receive paid legal advice, go to: www.oflaherty-law.com or call our office directly at (630) 324-6666.

Learn About Law is part of the Business Lounge Network, offering convenient and affordable office space in the Chicagoland area. Escape the noise of a crowded office or home and instead work in our professional and calm environment built to suit your business needs. For news on free events, membership offers and more, visit www.BusinessLoungeNetwork.com.

Do you have marketing, editing or audio/video production needs for your business, podcast or website? Want to be a part of the BLTV network? Let us know what we can do for you by calling us at 630-324-6666 or by emailing us at david@businessloungenetwork.com.

More Learn About Law videos, podcasts, and articles: www.learn-about-law.com

Learn More about O'Flaherty Law: www.oflaherty-law.com

Like us on Facebook for daily videos:
www.facebook.com/oflahertylaw/

O'Flaherty Law has convenient offices located in Davenport Iowa serving Iowa and the Quad cities and in Downers Grove, Elmhurst, Naperville, Tinley Park, St. Charles, and Lake in the Hills, Illinois, serving DuPage County, Will County, Cook County, Lake County and McHenry County. Its attorneys focus on providing quality legal work, above-and-beyond customer service, and affordable rates in the following practice areas: divorce & family law; estate Planning, wills & trusts; probate & estate administration; litigation, civil law & dispute resolution; business representation & corporate law; guardianship, elder law & special needs law; residential & commercial real estate law; immigration; bankruptcy; and DUI law and traffic & criminal defense.

O'Flaherty Law is proud to offer a free initial consultation in most areas of law. The free consultation will provide general answers on what we can do for you regarding a legal matter, specifics on what services we provide, and brief explanations on what your options for legal service may be. A free consultation does not include free legal advice or answers to specific legal questions relating to your matter. Free consultations last no longer than 30 minutes, but a full 30 minute consultation may not always be required.

None of the content in this series is intended as paid legal advice.

Subscribe to our channel for daily videos dedicated to law and business. [ Ссылка ]

свернуть