Specific Trust Options That Might Work For Your Client

Estate planners have started to create specific trusts that permit their clients to distribute their assets after death. Clients interested in this option can choose one of the following options:

1. Travel trusts are a way for clients to provide funding post mortem for heirs to travel to embrace their heritage.
2. An incentive trust prevents potential beneficiaries from wasting their inheritance and provide trust pay outs only if the heir follows certain obligations.
3. An heirloom asset trust ensures that a particular asset is kept in the family for generations.
4. Kiss trusts are irrevocable trusts that are created to dictate the way an inheritance is spent.

See Tom Nawrocki, 4 Specialty Trusts Your Clients Might Need, Life Health Pro, Nov. 14, 2013.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.