Sep 23, 2016
By estate planning attorney Rick Law. Rick is founder of the Estate Planning Center at Law Elder Law in West Suburban Aurora, IL. LEL is a multi-generation law firm.
A Love and Protection Trust can be used to help safely provide for:
A Love and Protection Trust is designed to be a legal tool that can provide protection, motivation, and encouragement for an adult child who is unable to make careful and supportive decisions with his or her money. The LPT works to make certain that your investment in your adult child is used to further your caring purposes, positive values, and enduring concerns for his or her well-being.
The way this works is that a trustee will use your written trust instructions to help safeguard your property in order to benefit your child. Trained investment professionals will defend the money and work to maximize a reasonable and profitable return on the assets that you have left. By law and by the trust document itself, the trustee must make wise and intelligent decisions to protect your child and your trust.
Unfortunately, it happens all too often that adult children squander their entire inheritance – unless you take control by making a gift of love and protection by using a lifetime trust. The LPT prevents an adult child from foolishly spending, wasting, and losing your hard-earned estate. Your investment in your child is protected from creditors, failed marriages, and other predators.
Some adult children are extremely vulnerable to creditor lawsuits and many other types of legal claims. An LPT can be designed to discourage substance abuse and to provide for the special needs of your adult child. You can and should build protective walls around the legacy that you have chosen to leave your loved one.
You can truly build a fortress with this trust. At its most basic, a love and protection trust will be there for your child long after you are no longer able to be directly involved. Your legacy of love, protection, and sound investments will give your adult child the best chance to have money still available if and when he or she eventually chooses to seek help to make a positive life transformation.
Call our office to discover more about how you can help rescue your vulnerable child for their whole lifetime.
Too many families needlessly lose everything they have. Don’t let that be you. If you need help paying the overwhelming cost of long term care, give our office a call at 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now, because when you’re out of money, you’re out of options!
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Call 800-310-3100 for your free consultation now!
“You don’t have to leave your family a lot of money. You really don’t have to leave them anything.
Just don’t leave them a mess.
Law Hesselbaum has made sure we won’t leave our family with a mess.”
M. C., Client of Law Hesselbaum and Law Elder Law