Best Estate Planning Attorneys in Lees Summit, MO

Who Can Benefit From Marital Trusts? - _ Marital trusts protect couples and their families._ Family gatherings are common during the holidays. For some, these are fairly simple logistically and emotionally. Loved ones live nearby and get along reasonably well. For many, the time is filled with stress around scheduling and relationship dynamics. It can be hard enough to manage holidays between the families of two spouses. Blended families often find greater challenges, especially when coordinating "family" time for their various family units. [Marital trusts provide various estate planning protections.] Marital trusts can protect inheritances for spouses and children. Enhanced stress levels around these relational dynamics are not uncommon during the holidays. They are also present in estate planning discussions and decisions. While marital trusts can benefit any couple, they can be particularly helpful for those in second marriages or who have blended families. Why? Marital trusts can help achieve a major win-win: a secure financial future for your spouse and an inheritance for your children. While they have disadvantages and advantages, these trusts can direct assets to their beneficiaries in a tax-friendly manner. What is a marital trust? A marital trust is a type of irrevocable trust. The trust provisions benefit the surviving spouse through managed asset distributions. The nature of irrevocable trusts can protect against undesirable outside influences a...