Navigation Links
Pozzuolo Rodden PC, Philadelphia Estate Planning Attorneys, Announce the Release of the Article "How To Use A Trust To Protect Your Children's Inheritance From Divorce"
Date:2/22/2013

(PRWEB) February 22, 2013

The Law Firm of Pozzuolo Rodden P.C., announces the release of the article "How To Use A Trust To Protect Your Children's Inheritance From Divorce". Below is a sample of the first couple of paragraphs. If you would like to read more, please read the full article and other corporate law, or estate planning topics at http://www.pozzuolo.com/Pubs_Articles.shtml

How To Use A Trust To Protect Your Children's Inheritance From Divorce

"Parents never want to envision their children going through a divorce, yet divorce is a common statistic and every parent should be aware of how to protect their children’s inheritance in the event of divorce. Placing your child’s inheritance in a trust is an important estate planning tool that every parent should consider.

            In Pennsylvania, property acquired during a parties’ marriage is considered to be “marital property” and subject to equitable distribution. While property acquired as a gift, bequest, devise or decent is excluded from the definition of “marital property” that exclusion only applies if that property is not co-mingled with “marital property.” Therefore, if your child’s gift, bequest or devise is placed into a joint account or used and enjoyed by both your child and his/her spouse then it may be subject to equitable distribution and your child would not receive the full inheritance you intended to give them.

             A trust operates differently from a will or gift to your children, because the trust itself owns the assets you would have given to your children and your children are the beneficiaries of the trust, allowing them to receive distributions of the trust assets pursuant to the terms of the trust. A trust may be either revocable and/or subject to change or irrevocable with terms that cannot be changed. During your lifetime you can make the trust a revocable trust with yourself named a trustee, allowing you to control your assets and modify or amend the trust agreement as you see fit. However, upon your death the trust can become irrevocable, cementing the terms of the trust agreement and protecting your assets from children’s creditors, such as an estranged spouse in divorce litigation, while you children remain beneficiaries of the Trust.

             As beneficiaries, your children receive distributions from the Trust pursuant to the terms of the trust agreement. The terms of the trust can be drafted to allow your child’s inheritance to be distributed over time according to the terms and conditions you set. This allows for greater creative flexibility in how your assets are disbursed to your children and offers far greater protection for your children’s inheritance in the event of his/her divorce....."

If you would like to read more, please read the full article "How To Use A Trust To Protect Your Children's Inheritance From Divorce" and other corporate law or estate planning topics at http://www.pozzuolo.com/Pubs_Articles.shtml

Pozzuolo Rodden, P.C. provides specialized cost-effective legal services to privately held business owners and high-net-worth clients in Pennsylvania and New Jersey in excess of 35 years.

Practice Areas:

Business planning and transaction, complex business litigation, commercial real estate and development, construction law and litigation, advanced estate planning and administration, tax and pension law, high profile and intricate family litigation, and employment law and litigation.

Pozzuolo Rodden, P.C.
Counselors at Law
2033 Walnut Street
Philadelphia, PA 19103
215-977-8200
http://www.pozzuolo.com

Read the full story at http://www.prweb.com/releases/2013/2/prweb10450322.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Pozzuolo Rodden, P.C., Philadelphia Business Planning Attorneys, Announce the Release of "IRS Reaffirms Its Commitment To Expand The Audits Of High Net Worth Individuals"
2. Maiden Media Group Certified as Minority Business Enterprise in Philadelphia
3. Intervention Associates, Philadelphia Area Quaker Care Management and Guardianship Organization, Spins Off Direct Home Care Company
4. Quorn Foods Inc. Comments on an Article Regarding a Year in Review for Philadelphia’s Meatless Meals and the Restaurants That Serve Them
5. Philadelphia Malpractice Lawyers at Console & Hollawell Explore Negligence as Overdoses from Prescription Painkillers Now Kill More People than Heroin
6. Honda Issues Recall of 800K Vehicles, Philadelphia Attorneys at Console & Hollawell Warn Consumers of Their Potential Risks
7. People in crowdsourcing challenge find defibrillators in Philadelphia
8. Avid Collector Seeks Jimi Hendrix 1968 Electric Factory Philadelphia Concert Poster
9. Private Real Estate Investment Firm, Cohen Asset Management, Inc., Appoints Senior Vice President of Asset Management for East Coast
10. Business Review Commends Florida Probate Counsel's Dedication to Education with the Release of its Latest Estate Planning E-Book for Florida Residents
11. Articlesontap.com To Provide Content Consulting Services For Top Denver Real Estate Website
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/15/2017)... ... January 15, 2017 , ... Going above and beyond ... strives to better communities around the world by offering the Gensuite team and ... opportunity for team members to become involved in a cause that is bigger ...
(Date:1/15/2017)... ... 14, 2017 , ... Wondering where to go this Valentine's Day? Well, there ... for a romantic, lobster feast in the comfort of your own home. Lobster Gram ... dinners will be featured until February 15th, 2017. , Romantic Dinner one is ...
(Date:1/14/2017)... ... 2017 , ... AgileMinder develops innovative products and services that bring "Care, Joy ... on Apple as a fun, free emoji sticker pack for iMessage. Use the stickers ... color coded values on The Emoji Scale. , On Apple: "The Emoji Scale ...
(Date:1/13/2017)... , ... January 13, 2017 , ... KOAMTAC ®, ... will be showcasing the next generation companion scanner and data collector at the National ... KDC270 has been created as an answer to the market’s need for more compact ...
(Date:1/13/2017)... (PRWEB) , ... January 13, 2017 , ... "We wanted ... attractive to wear," said one of two inventors from Virginia Beach, Va. , They ... normally mundane braces. , The accessories allow braces to be customized to suit ...
Breaking Medicine News(10 mins):
(Date:1/13/2017)... DALLAS, Pa. , Jan. 13, 2017  Secretary ... crowd of students, professors, and community members at Misericordia ... the opioid epidemic in Pennsylvania . ... health crisis I,ve seen so far in my professional ... Pennsylvania has been hit hard by heroin ...
(Date:1/13/2017)... BOISE, Idaho , Jan. 12, 2017 /PRNewswire/ ... status by Accreditation Commission for Health Care (ACHC) ... the largest national food and drug chain with ... service for pharmacy patients. Accreditation by ... meeting national standards to facilitate a higher level ...
(Date:1/12/2017)... According to a new market research report ... (Nebulizer), Injectable (Device), Ocular (Liquid), Topical (Solid), Implantable (Active), Transmucosal (Oral)), ... by MarketsandMarkets, market is projected to reach USD 1,669.40 Billion by ... 7.2% during the forecast period. Continue ... ...
Breaking Medicine Technology: