Naming Someone to Manage the Children’s Inheritance
Unless this in included in the estate plan, the court will appoint someone to oversee the children’s inheritance. This will likely be a friend of the judge and a stranger to the family. It will cost money (paid from the inheritance) and the children will receive their inheritances in equal shares when they reach legal age, usually age 18. Most parents prefer that their children inherit when they are older, and to keep the money in one ‘pot’ so it can be used to provide for the children’s different needs. Establishing a trust for the children’s inheritance lets the parents accomplish these goals and select someone they know and trust to manage it.
Who will make decisions for you if you are unable to make them for yourself? Who will have the power to sign documents on your behalf, or make sure your bills get paid?
“Excellent service based on expert knowledge. Working with Corey was fantastic. My wife and I were setting up a new business, and needed to have a complete estate plan established. Corey not only covered the basics, but included important protections for our children’s future that I never would have thought of. He also made sure we understood how to use the information in order to update other assets like life insurance. I have recommended Corey to several of my friends, and will continue to do so without reservation.” – Tim (Belton, MO)
“I recommend Corey Rasmussen. Corey handled my Trusts matter. I have previously worked with 1-2 lawyers. Corey, was great. He went above and beyond my expectations. He came to our house to provide services (more than once). He was very patient and helpful to me. He actually sorted my mail related to our business! He was easy to talk to and explained things at a level that was understandable to us.” – Tammy (Lawrence, KS)
“Excellent Attorney for Wills and Trusts. Corey helped us revise and update our trust and wills. He showed great interest in us and was extremely thorough. Corey spent considerable time explaining the whole process. We believe he is an excellent attorney and would recommend him to anyone needing help revising or creating a trust.” – Connie (St. Joseph, MO)