There are estate planning strategies available that allow you 
to design the appropriate plan to meet your needs and those 
of each  of your children.  With a little forethought and planning, 
you can accomplish your goals  without having 
to take the extreme step of disinheritance. 
QUESTION:
"My son has a drug addiction. Can I put a provision in my trust that prevents him from accessing any of the assets unless he passes a drug test?"

ANSWER:  Absolutely. We can draft your trust to your specific requests. 
A typical provision of this nature will allow for money to be spent on your son's behalf for rehabilitation, but will not allow the trustee to disburse funds unless your son passes a drug test. You may also want to include periodic distributions based on the results from follow-up drug testing. Your trustee can be instructed  to withhold payments of both income and principal from the son's trust until he proves to the satisfaction of your trustee that he no longer has a substance-abuse problem.

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QUESTION:
"Can I provide for the cost of food, shelter and medical care without giving the funds directly to my addicted daughter?"

ANSWER:  In order to ensure that the payments are used for the benefit of your daughter, as opposed to her using the trust disbursements to further her habit, the trustee could make all mortgage or rental payments directly to the mortgage company or landlord. Similar arrangements could be made for medical expenses, food, clothing and expenditures for other basic necessities.

Do you need to discuss how a loved one's emotional or psychological problems may affect your estate plan? 

Do you have a parent who needs to consider how a future inheritance may affect a sibling with an addiction?

Call us at 614.760.1801 to schedule an initial consultation or a review of your existing plan.

THE POWER OF TRUSTS

If at death you only have a Will, your estate will have to go through Probate CourtWhen it comes to private family matters, such as how you want to allocate assets to loved ones suffering from emotional issues, psychological problems and/or addictions, having your estate plan part of  public record is NOT preferred. 

A Living Trust is a powerful estate planning tool that avoids Probate Court and allows you the opportunity to provide a framework for managing inheritance, or if necessary,  disinherit an individual. It also  ensures privacy, efficiency and significant cost savings for your loved ones after you are gone.

September 6  Elder Law Presentation to Parkinson's Support Group
Location: Concord Counseling in Westerville, Ohio
Register HERE 

September 13 Special Needs Planning Presentation
Location: Blanchard Valley Center School in Findlay, Ohio 
Register  HERE

September 14 Special Needs Planning Presentation
Location:  OCALI,  470 Glenmont Ave.,  Columbus, Ohio 43214  Room 305
Register HERE

September 21 Special Needs Planning Presentation
Location: Grace Polaris Church in Westerville, Ohio
Register  HERE

September 26 Special Needs Planning Presentation
Location: Oakstone Academy in Westerville, Ohio
Register HERE

Click  HERE  to see more of our upcoming programs.
 

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