Phoenix ● Mesa ● Tempe ● Scottsdale
Inheritance Law Attorneys
At Knollmiller & Arenofsky, LLP, our lawyers believe that estate planning should involve more than deciding who should receive which assets. Planning must acknowledge the needs, situations, and personalities of those receiving your estate. We help clients think about the best way to distribute their assets, given the circumstances of their heirs.
Our attorneys advise people who worry about the ability of their children to manage their inheritance. Other clients have been worried about an heirs’ susceptibility to frauds and schemes. Still others note that their children demonstrate their lack of financial skills by filing for bankruptcy or suffering from other debt problems. Parents are frequently troubled by the substance abuse history of their children or the ramification of a child’s spouse or potential divorce. All of these clients are concerned that an inheritance can make matters worse or end up in the wrong hands. There are options! To learn how we can help you leave your property in a way that does not hurt your heirs, contact our Mesa, Arizona, law firm today.
Trusts allow you to control how your assets are managed
Some of the ways we help people handle questions about the abilities of their heirs include setting up:
- Spendthrift trusts
- Asset protection trusts
- Life insurance trusts
- Discretionary trusts
- “Beach-bum” trust provisions
These and other trust forms help clients protect their heirs and their assets from their heirs’ creditors and ex-spouses, while still passing on assets to the next generation. Trusts work by holding the assets in trust and distributing as specified by the trust agreement, including:
- Providing incentives to beneficiaries;
- Encouraging beneficiaries to obtain education;
- Restricting access to funds if beneficiaries engage in certain types of “bad” behavior;
- Providing broad discretion to trustee to distribute income to minimize taxes.
Our attorneys have found that creating a trust fund that addresses inheritance issues safeguards the estate and offers peace of mind. For more information about inheritance issues in estate planning, contact an Arizona trust attorney at Knollmiller & Arenofsky, LLP for a consultation.
Make a Payment
