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    Joshua and Laura Meier Newport Beach Trust and Estate Planning Attorneys Focused on Helping Families with Young Kids
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    Sep 4 12

    Protecting the Inheritance From (and For) Your Loved Ones

    Newport Beach Law Firm

    Can you force a grandchild to take a drug
    test in order to receive an inheritance? Insist your heirs use trust funds only
    for tuition at your alma mater? Make sure your wife's future husbands can't run
    through money you worked hard to earn? In many cases, the answer is yes—you
    can, in effect, control your heirs from the grave.

    Leaving an inheritance, a bequest, or a charitable donation is serious
    business. However, if you want to continue your control over the use and
    enjoyment of your transferred wealth after your departure, you must plan ahead.

    Recently, The Wall Street Journal considered the notion of goal-driven
    bequests in an article titled “How to Control Your Heirs From the Grave.”
    Good news: there are steps you can take now to guarantee that certain
    preconditions are met before inherited assets can be released or used.

    So, what kind of “guarantees” do
    you want to ensure after you’re gone? That depends on you, your family, and what
    is of true importance to you. Maybe you want to curtail irresponsibility by
    calling for a drug test before receipt of an inheritance, or encourage
    responsibility by requiring a college degree.

    Nevertheless, there are limits
    to the guarantees you can secure and the original article delves into some of
    them. Competent legal counsel should be secured to help you navigate the wealth
    transfer rapids.

    Reference: The Wall Street
    Journal
    (August 10, 2012) “How to Control Your Heirs From the Grave




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    Meier Law Firm | 2103 Vista Entrada, Newport Beach, CA 92660
    phone: 949.718.0420 e-mail: office@meierfirm.com