The Listen to Lawrence Letter: Trusts are Flexible

READER QUESTION:

If one of my children is on Medicare, unable to work, and has very little Social Security to live on in the future….and doesn’t know how to handle money, how can I leave that child money and have it dispersed weekly or monthly?

MY RESPONSE:

Ahhhh, the beauty of a trust! 😊 We can draft a trust for your child to meet any budget you think appropriate. You can either specify an amount (i.e, $3000 monthly) or a percentage (i.e,  5% of trust principal divided by 12) or all trust income or just leave it up to the discretion of a trustee. Basically, we can create a trust to distribute income and assets to your child in any way you can imagine, or that is appropriate under the circumstances.

And, if anyone you know would like to

receive this Listen to Lawrence Letter just

tell them to send their email address to info@davidowlaw.com and I’ll add them to the list!

As always, please send your questions in! If you are thinking about it, others are probably too, so my answers will no doubt help you and many others.

Let’s stay connected. Stay safe!