Question: Did you ever think about how the Fords, Kennedys, and other wealthy American families pass their wealth down to multiple generations?
Answer: The use of trusts
It doesn’t require millions of dollars to consider such planning. WPLC designs inheritance planning so that your children have access to their interests in trust instead of outright. If they do not exhaust their trust share, the remainder amount stays in trust for their children (your grandchildren).
- No estate tax at the child’s level of amounts passing to later generations
- Protection for children and later generations against creditors and potential ex-spouses.
- Get out of your comfort zone and plan like a visionary – your great grandchildren will remember you and thank you.