It is never too early to ask a Denver estate planning attorney about divorce inheritance protection, even if your child is only six year old, and you should not be concerned with your child getting divorced at a certain time. However, it is wise to start asking yourself what would happen in such a situation and start planning, because the current divorce rate in the United States is 50%.
Your child’s inheritance depends on your current decisions, and it could end up in someone else’s hands if those decisions are not correct. You certainly do not have this end in your mind, especially if your child is a young person already married and you are not too fond of his/her spouse.
To solve the problem, you should consider a special trust, there are benefits as to why hire an estate planning attorney. Your lawyer can tell you that, by choosing this option, trust shares are generated for your son/daughter when you pass. Since every share remains in the trust name, the trustee will be in charge of all those shares. It is also possible for the trustee to spend the income earned or invest it. Your Denver estate planning attorney will also tell you that this approach provides protection from bankruptcy and creditors.