Massachusetts’ Supreme Judicial Court just released opinion impacts many estate planning clients. Often, one strong recurring desire of estate planning clients is to protect their children’s inheritance from a child’s subsequent divorce. Ongoing “Inheritance Trusts” (also known as discretionary trusts) have been a solution to meet this goal. Yet, until today, this important tool in the Massachusetts estate planning attorney’s toolbox was called into question. In the Massachusetts’ divorce case of Pfannenstiehl v. Pfannenstiehl,…
5 Reasons to Protect Your Retirement Accounts Now
During your lifetime, your retirement account has asset protection, but as soon as you pass that account to a loved one, that protection evaporates. This means one lawsuit and POOF! Your life long, hard earned savings could be gone. Fortunately, there is an answer. A special trust called a “Standalone Retirement Trust” (SRT) can protect inherited assets from your beneficiaries’ creditors. We’ll show you what…