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In this video I analyze the decision whether to leave an inheritance to someone outright or in a trust.

So this video is being put into a playlist that includes videos on the seven most popular objectives people have when they engage in the estate planning process. In that video which describes all seven objectives - I’ll link you above to that video - I mentioned that one of the seven objectives was providing for one or more beneficiaries who will receive an inheritance, but it is not in their best interest to receive all of their inheritance, in a lump sum, in their name.

So let’s run through seven scenarios where it may be important to leave one or more beneficiaries’ inheritance in a trust instead of leaving it to them outright. But before we do that, let’s address quickly when you would likely feel it is ok to leave an inheritance to your heirs outright. Outright means probably what you think it means - an heir gets $1m, it goes directly into their name, they do whatever they want to with it; they have complete control over it from day one. People who leave an inheritance to one or more people outright often have heirs who are adults, they are responsible, they manage their money well, and you have confidence that by leaving it outright to them and allowing them to control it from the get-go is better than having it put into a trust for them with certain restrictions.

So here’s seven reasons in this video, however, why you may want to consider that one or more beneficiaries’ inheritance be placed in a trust after you pass away (note that after I go through these seven reasons, I’ll address the trustee selection and the distribution options that are customarily selected.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

0:00 Outright or In Trust
0:47 Ok to Leave Outright
1:47 Beneficiaries Are Minors
2:42 Beneficiaries Are Young Adults
3:11 Heirs Are Financially Immature
3:54 Beneficiary With Addiction Problems
4:14 Beneficiary Controlled By Spouse
5:07 Heir Has Creditor Problems
5:39 Protect Inheritance From Child's Future Divorces
6:28 Trustee Selection
7:31 Trust Term
7:44 Distributions for HEMS
8:31 Trust Termination Options

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