The Benefits of Creating a Trust for Your Children

Many parents want to leave assets to their children but are understandably concerned about giving a young beneficiary unrestricted access to a large inheritance. A trust can provide an effective way to protect and manage assets for a child while still ensuring that funds are available for important needs such as education, healthcare, housing, and support.

A trust allows the person creating it to appoint a trustee to manage the assets on behalf of the child according to specific instructions. Parents can determine when and how distributions are made, rather than requiring a child to receive everything outright at a certain age. For example, a trust may allow funds to be used for college expenses while delaying larger distributions until the child reaches a more mature age.

Trusts can also provide long-term protection for family assets. Properly structured trusts may help shield an inheritance from creditors, lawsuits, or issues arising from divorce. In some cases, trusts can continue for many years and benefit future generations as well. For families who want greater control, flexibility, and protection, trusts are often one of the most valuable estate planning tools available.

Johnston Burkhardt is an attorney at Sternberg, Naccari & White, LLC, with experience in trusts and estate planning. He regularly assists families in structuring trusts to protect long-term financial security and protection. To learn more about trusts and estate planning or to schedule a consultation, contact Johnston at (504) 324-2141 or johnston@snw.law.