Estate planning is often viewed as a critical task for ensuring that one's assets are distributed according to their wishes after they die. However, it's equally important to consider the well-being of family members who may require special assistance or support. For individuals suffering from mental illness or battling addiction, establishing Trusts can provide a structured and protective way to manage their inheritance.
Trusts offer flexibility in controlling how and when assets are distributed, which can be invaluable when dealing with vulnerable beneficiaries. By appointed a trusted Trustee to oversee the Trust, individuals can ensure that the funds are used for the intended purpose, such as covering medical expenses, therapy, or rehabilitation programs. Additionally, Trusts can safeguard the inheritance from creditors or other external pressures, providing peace of mind for both the benefactor and the beneficiary. In this way, incorporating Trusts into estate plans can serve as a compassionate and practical solution for supporting loved ones during their time of need.
If you have questions about using Trusts to protect the inheritances of loved ones suffering from mental illness or battling addiction, give us a call and we'll be happy to help. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.