I want to leave money to my grandchildren but want to be sure that my son-in-law does not control it. Should I consider a trust modification in Anaheim? Modifying your trust in Anaheim is an excellent option for accomplishing your goals if you find it important to minimize your in-law’s access to trust assets. When you first creating your estate plan, you may not have taken the time to consider these types of scenarios. Perhaps your child was not married, or maybe you did not yet have any grandchildren. Regardless of the reason, an amendment to the trust can help you to address the issue of distributions to in-laws. Granting power to the trustee to make discretionary distributions is often a good method for protecting the trust assets while still leaving your estate to your loved ones.
How can a modification to a trust in Anaheim reduce your in-law’s access to trust assets? The following is an overview:
- The trustee can hold the assets in trust for the benefit of your grandchild until she is no longer a minor.
- The trust can give the trustee guidelines to make distributions for specific purposes until the trust is terminated.
- The trust can dictate that the in-law is not to serve as trustee.
- The trustee can you use his discretion to determine whether a request for a distribution is ultimately to benefit the grandchild or the in-law.
I want to leave money to my grandchildren but want to be sure that my son-in-law does not control it. Should I consider a trust modification in Anaheim? To learn more about the process of amending a living trust in California, view our free guide, The Ten Things You Must Know Before Creating (or Amending) Your Will or Trust. Call our office of experienced Anaheim trust modification attorneys today at (714) 459-5481 for a consultation.