[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/protecting-the-inheritance-from-and-for-your-heirs-white-plains-ny-estate-planning-and-elder-law\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/protecting-the-inheritance-from-and-for-your-heirs-white-plains-ny-estate-planning-and-elder-law\/","headline":"Protecting The Inheritance From And For Your Heirs Estate Planning and Elder Law","name":"Protecting The Inheritance From And For Your Heirs Estate Planning and Elder Law","description":"According to a recent WealthCounsel survey, 35 percent of people are crafting their estate plans to avoid mismanagement by their heirs. They are setting up trusts, naming third-party trustees to manage their bequests and delaying the age that heirs receive them. There are a number of hard questions when it comes to planning for your […]","datePublished":"2013-07-10","dateModified":"2023-08-12","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b01901e3176ea.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b01901e3176ea.jpg","height":750,"width":1050},"url":"https:\/\/www.amorusolaw.com\/blog\/protecting-the-inheritance-from-and-for-your-heirs-white-plains-ny-estate-planning-and-elder-law\/","about":["Elder Law","Estate Planning","Medicaid Asset Protection Trust (MAPT)","Special Needs Planning","Trusts"],"wordCount":370,"keywords":["Asset Protection","Estate Law","Estate Planning","Medicaid Asset Protection","Trust"],"articleBody":"According to a recent WealthCounsel survey, 35 percent of people are crafting their estate plans to avoid mismanagement by their heirs. They are setting up trusts, naming third-party trustees to manage their bequests and delaying the age that heirs receive them.There are a number of hard questions when it comes to planning for your estate and for your heirs. Naturally,\u00a0there is the question of what to give to whom. Another question, of perhaps equal if not greater importance, is how your heirs should inherit their inheritance.Money is both the root of all evil and yet a most helpful tool when it comes to achieving life goals. Consequently, consider ensuring that your beneficiaries get enough to help them with their dreams, but not so much they miss out on learning how to work for those dreams on their own.This often requires that you take great care when structuring the inheritance distribution portion of your estate plan. According to a recent Reuters article titled \u201cMore heirs wait as wills dole out money slowly,\u201d more families are structuring their estates as the title suggests.The tool of choice, now as ever, is a trust fund. Indeed, trust funds have been used to keep assets safe for a younger beneficiary, but that historically meant until their legal maturity at age 18. More recently, however, with social changes as they are, trusts are being created to age 30 or beyond. Some trusts are rather specific in their terms, too.\u00a0For example, trusts terms may specifically provide for college expenses, the first house, the first child, and other life milestones.So, are plans that keep the whole distribution process at a low, slow boil the way to go?They are not without their disadvantages, especially for those who do not want to \u201crule from the grave\u201d or those who resent being \u201cruled from the grave.\u201dIn the end, every family and every generation is different. Ask yourself: which strategy is most appropriate for your heirs, assets, and plans? It\u2019s an important angle to review.For more information on protecting your assets and inheritance, please visit my estate planning and elder law website.Reference: Reuters (June 25, 2013) \u201cMore heirs wait as wills dole out money slowly\u201d"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Protecting The Inheritance From And For Your Heirs Estate Planning and Elder Law","item":"https:\/\/www.amorusolaw.com\/blog\/protecting-the-inheritance-from-and-for-your-heirs-white-plains-ny-estate-planning-and-elder-law\/#breadcrumbitem"}]}]