Allotting Trust Funds for Travel
Concerned that your loved one will not be able to see the Seven Wonders of the World? Fortunately, with the flexibility of creating a customized estate plan, travel can become a part of your legacy. As reported by the San Jose Mercury News in Inheriting Travel: Trusts Can Fund Trips for Heirs,* there are many people thinking about how to influence the behavior of their descendants in a positive way.
Some people choose to specify a particular country or city in their trust, while others choose to bequeath money for the purpose of their offspring connecting with their heritage or for a philanthropic purpose. In one case, a father wanted to encourage family visits where his children lived far away from each other, so he included a yearly air travel budget in his estate plan.
There are many creative clauses that can be included in a trust to create an estate plan tailored to your needs. Additionally, including such provisions can work to shield the beneficiaries from creditors. The attorneys at Lonich Patton Erlich Policastri have decades of experience handling complex estate planning matters. If you are interested in developing an estate plan or modifying your current estate plan, contact the experienced estate planning attorneys at Lonich Patton Erlich Policastri for further information.
Please remember that each individual situation is unique and results discussed in this post are not a guarantee of future results. While this post may detail general legal issues, it is not legal advice. Use of this site does not create an attorney-client relationship.
* Read article here: http://bit.ly/P0VTAN