We all have natural talents. For some handling money is a difficult skill to master. If you've put off estate planning or updating your will and trusts, it may be because you don't know how to deal with an heir making poor financial choices. 

Consider adding an asset protection trust.

This trust enables you to ensure that your beneficiaries receive the money they need over the years and protect them from rash financial decisions. Adding this trust to your estate plan will give you peace of mind. In Washington State, asset protection or spendthrift trusts are clauses added to any form of trust. 

Trusts with the asset protection clause are a  safeguard from creditors.

The trustee you appoint distributes the assets to the beneficiaries in increments you establish, rather than a lump sum. In addition to preserving assets for the future, it also puts the assets out of the reach of creditors. 

The trust can avoid probate.

If you establish the trust during your lifetime, called a living trust, it is not subject to probate.

At GSJones Law Group our attorneys can help increase your peace of mind with this and many other strategies in estate planning, wills and trusts.