INTRO: Here's the story of a special project I completed for a client some months ago. My client is a young father - I'll call him Curt. Curt's grandfather died about a year ago. His last will and testament provided his great-granddaughters, Curt's very young daughters, with a significant inheritance.
Curt took this opportunity to consult with me about how to best protect the wonderful inheritance his daughters were about to receive. I proposed to create an irrevocable trust for each daughter under which the funds could be managed by an appropriate trustee, grow over time, and be a special gift to help the girls launch into adulthood.
Not only was it fun to work with Curt on creating trust terms to protect his daughters, it was especially rewarding to see how much Curt cared for his grandfather and appreciated the legacy being passed down. Curt asked me if he could write a letter to provide the trustee of the trusts some guidelines and to elaborate to his daughters about this special legacy being left by their great-grandfather. I heartily encouraged him to do so.
When I read Curt's proposed letter, I was moved. It was a beautiful gift in its own right.
PART TWO: Read portions of the letter Curt wrote in Using Your Estate Plan to Pass on Values - Part Two.
This article is intended to provide information of a general nature, and should not be relied upon as legal, tax, financial and/or business advice. Readers should obtain and rely upon specific advice only from their own qualified professional advisors. This communication is not intended or written to be used, for the purpose of: i) avoiding penalties under the Internal Revenue Code; or ii) promoting, marketing, or recommending to another party any matters addressed herein.
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