Unless you’ve created a proper estate plan, when you die many of your assets must first pass through the court process known as probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of this, avoiding probate—and keeping your family out of court—is a central goal of most estate plans.
Read MoreWhen Eric left water running unattended, the resulting flood caused over $400,000 in damage. Any inheritance he might have received before this accident could have been taken from him to pay for that damage. However, if Eric had received an inheritance in a Lifetime Asset Protection Trust, instead of an outright distribution, his inheritance would be completely protected from such a lawsuit—and just about any other threat imaginable.
Read More