When Cheap and Easy becomes Expensive and Difficult…..

By Rick Law, Senior Partner, Law Elder Law LLP

Many times, when things are cheap and easy at the beginning, they become extremely expensive and difficult when the chips are down.

In a recent case the court gave $72,980.67 (100% ) of son’s inheritance to his creditor, Community Bank of Elmhurst. The court said that as soon as the inheritance became available to the son, that money was immediately due and payable to the creditor-bank. Don’t let this happen to your inheritance!!

  • Do you worry about your adult child’s:
  • Money troubles
  • Marriage difficulties
  • Lifelong physical and mental disabilities…Special Needs
  • Drug and alcohol addiction
  • Aggressive creditor problems
  • Psychological and/or health concern

Are you worried about how to properly create an estate plan to protect your adult child who has one of those concerns? If so, then you need to contact us. We know the rules that can protect your inheritance to your adult child.
In Community Bank v. Klein, a child’s inheritance could have been saved had Mom established an asset protection trust to receive the inheritance and protect her adult son. We call this a Love & Protection Trust. Sure, up-front, it’s going to cost more money than just getting some form, but as this case points out, the investment in high-quality estate and asset protection is much lower than losing 100% of what you plan to leave to your son or daughter. In this case, Mom left Junior $72,980.67 which was immediately taken by the creditor, The Community Bank of Elmhurst. Don’t let this happen to you and your family.

We know the rules!  Call us today at 630-585-5200

Our Reviews

My wife and I had our first child three years ago. That’s when we decided to set up a trust, should anything happen to either of us. We reached out to Zach Hesselbaum to help us out. He was very thorough and professional throughout the whole process. Zach went above and beyond to make sure that we understood every detail of setting it up and he did an excellent job. We recently had our second child a few months ago. With the new baby, he helped us make the necessary revisions to the trust. Zach made this process great for us! I would definitely recommend using him for any of your estate planning needs!

Tom G., Naperville, IL