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Crafting Your Trust with a Newport Beach Trust Attorney: What to Include

Posted by Susan A. Katzen | Jan 07, 2024 | 0 Comments

When you're working with a Newport Beach trust attorney, it's crucial to understand what you can include in your trust document. Let's explore the variety of instructions or restrictions that can make your trust truly yours, ensuring your legacy is managed just the way you envision.

Tailoring Your Trust: A Guide to Restrictions

Creating a trust allows you to set specific terms for how your assets are distributed. Whether it's encouraging educational pursuits or setting age-based milestones, your trust can reflect your values and goals. Here are some important guidelines that you may wish to consider:

1. Financial Milestones or Life Events

·         Educational Achievements: It's possible to specify that beneficiaries will only receive a portion of their inheritance upon completing their education.

·         Age-Based Distributions: Commonly used, these conditions release funds at significant ages, like 25 or 30.

2. Conditional Distributions

·     Marriage or Parenthood: You might include conditions like marriage or the birth of a child before financial distributions are made.

·    Career Achievements: Encourage professional development by tying distributions to career milestones.

Custom Clauses for Unique Families

Also keep in mind that every family is different, and your trust should reflect that as well. From incentivizing charitable giving to protecting assets from external threats, you can tailor your trust to fit your family's unique needs and values. Here are some custom guidelines that you may also wish to incorporate into your plan:

1.    Incentive Clauses

·         Charitable Giving: Motivate philanthropy by matching charitable donations made by beneficiaries.

·         Financial Responsibility: Reward responsible financial behavior, like prudent saving or investing in the terms of your trust.

2.      Protection Clauses

·         Spendthrift Clauses: These clauses protect your assets from a beneficiary's potential creditors.

·         Discretionary Trusts: Allow your trustee to make distributions based on the beneficiaries' current needs and circumstances.

Communication: The Heart of a Successful Trust

No matter what guidelines you choose, effective communication is key to a successful trust. Discussing your trust plans with your family can help manage expectations and maintain harmony.

Work with a Newport Beach Trust Attorney to Create a Plan That Meets Your Needs

Creating a trust is a personal and important decision. With the right guidance and thoughtful planning, your trust can be a powerful tool to manage your legacy and support your loved ones. If you have more questions or need further information, feel free to contact our Newport Beach trust attorneys to schedule an appointment. We are here to guide you through these critical decisions so that you can create a comprehensive plan that protects your family and assets.  

About the Author

Susan A. Katzen

"I firmly believe our clients should be treated the way I would want my own family members to be treated. As a result, not only have I put together a compassionate and highly skilled team of people, but together we have served families from the grandparents down to the grandchildren. My staff and...


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