Parents who want a child’s inheritance to pass to a trust, rather than outright, often seek to prevent the child’s former spouse from reaching such assets in the event of divorce. Unfortunately, under the laws of some states, regardless of whether a trust has a spendthrift provision or is a discretionary trust (or both), a beneficiary’s children and/or a former spouse may have rights to reach trust assets that are otherwise protected from creditors. When clients are ...
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