On the issue of children and inheritance

"Isn't everything simply going to go to my kids?"  That is a common question I get when I'm helping clients with their estate plan.  While your kids will likely inherit from you, they don't necessarily get all the assets automatically.  The probate court may need to get involved.  Also, if your kids are minors, there are many limitations on what they can get. 

Even if your kids are old enough (older than 18) to receive their inheritance, is it a good idea for them to inherit everything at once?  Perhaps it is better to protect your kids from divorce, creditors, spendthrift tendencies and much more by having their inheritance protected in the family living trust.  It's very important to think these things through.  Why should you work so hard your entire life only to have your estate pass to one of your children and then have it squandered?  Also, if your children are in trouble with creditors, in a bad marriage, etc., your estate can easily fall into the wrong hands!

If you want to discuss protecting your children with a solid estate plan, call my office at (661) 414-7100 and ask for a consultation.  Thank you for the chance to assist.