Your Living Trust can also be an asset protection trust by making the trust shares for your beneficiaries after you pass away as a Family Access Trust or a Family Sentry Trust. While giving your beneficiaries unfettered access may seem appropriate for mature, wise beneficiaries, divorce is a risk for any heir who is married. A Family Access Trust provides divorce protection by keeping a child’s inheritance separate from his or her other assets. That prevents the asset from being converted either intentionally or accidentally from separate, non-marital property to marital property. This distinction is critical if an heir gets divorced, since the divorce court can only divide and award marital assets between the spouses. Non-marital assets cannot be divided in a divorce. The Family Access Trust assets are also not considered marital assets under traditional principles of law. Learn more by downloading!
Zimmer Law Firm
Estate Planning & Elder Law Attorneys
