https://www.paestateplanners.com/ You have worked hard to build your estate and manage your money, and now you want to make sure your beneficiaries will have access to your funds. However, if your trust is not worded correctly, your beneficiaries might not be able to get access to their inheritance. This is why it is important to learn about a spendthrift trust.
A spendthrift trust, or an irrevocable trust that contains a spendthrift provision, will prevent a creditor of your beneficiary from taking the money in the trust. Whether your beneficiary has an existing creditor issue, is going through a divorce, or has just had a hard time managing money, a spendthrift provision in your trust will protect your beneficiary’s distribution. If your trust is not worded carefully, your beneficiary’s distribution won’t be protected and a creditor will be able to claim your beneficiary’s inheritance.
To ensure your trust is worded correctly and to find out if you have a spendthrift provision in your trust, call the Pennsylvania law offices of Unruh, Turner, Burke & Frees for a complimentary consultation at 610.933.8069 or reach us online at https://www.paestateplanners.com/contact.cfm.