Ask the Expert: Leaving Money to Children Through a Revocable Trust
January 27, 2020
Your revocable trust is an alternative to a will; and like a will, it can be used to create an irrevocable trust for your heirs’ benefit at your death.
Many parents want to leave their children money in a lifetime trust rather than as an outright bequest, says Eric Kramer, an Island Park estate lawyer. A well-written trust can protect your heir’s assets from creditors’ claims. Often, Kramer says, parents’ primary goal is to protect their child’s inheritance from his or her spouse in the event of divorce.
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