A spendthrift clause is a valuable way to protect your beneficiary’s inheritance from creditors. For example, if you leave $100,000 to a child who has a great deal of loan debt, the debt holders cannot come after the $100,000 if it is held in the trust. It’s an excellent way to protect your hard-earned assets from your beneficiary’s creditors.
No Contest Clause
A No Contest clause prevents in-laws, ex-spouses, divorced family members and your beneficiaries from challenging your will or trust by disinheriting anyone who challenges your distribution. If a beneficiary sues for a greater share of your estate and losses, he or she will not receive anything from your estate. It is a great way to prevent fighting amongst your beneficiaries’.
A Buy-Out Clause allows one of your beneficiaries to purchase your home from the other beneficiaries for the fair market value of the home minus a real estate commission. It is a great benefit if you have an adult child who currently lives in your home and would like to continue to live in the home after you pass. Also, if we help you sell a current piece of Real Estate we may be able to greatly reduce your Capital Gains tax which could be a significant tax savings to you and your family members.
A FREE one-hour meeting at the Kahala Office of Estate Planning Consultants of Hawaii, Inc. (EPCH) will put you well on your way to making the proper provisions for protecting your family's assets. You will discover that most, if not all, of a person's assets are potentially at risk - even joint bank accounts and insurance policies.
With the competent assistance of an EPCH Attorney, you will identify the value of the assets at risk. With this knowledge, our firm will craft the best possible asset protection plan for your family's needs.
Call Stephen Capone today at 808-371-1868 for a free consultation to review your Trust documents.