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Friday, November 8, 2013

Trusts for adult beneficiaries

Ontario lawyer Donna Neff has recently written a very good article that talks about why people sometimes choose to create trusts for adult beneficiaries. These trusts are not just for adults who are handicapped, but can work for people in many situations. Click here to read the article.

I often hear from adult beneficiaries for whom there is a trust in place who are upset about the fact that their inheritance is in trust. I believe their distress is solely the result of poor communication. They are in my office (or on my blog) wondering why they are being "punished" by not receiving an inheritance outright. They can\t understand what they might have done wrong. The testator who set up the trust believed that he or she was doing a positive thing for the beneficiary. All they had to do was mention it.

2 comments:

  1. Great post, thank you for sharing this with us!
    Testamentary trusts are commonly overlooked.Most people are more familiar with living revocable trusts.ContactFamily Lawyers Northern Beaches for more information regarding Testamentary trusts

    ReplyDelete
    Replies
    1. I guess things are different here in Canada from where you are. Testamentary trusts are not overlooked at all. They are very common here.

      Lynne

      Delete

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