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Home » Sponsored Content » Estate planning: How to… Estate planning: How to keep your money in your family By Sarah Beth Hensley | @SarahBethHens March 28, 2018 11:50 am 03/28/2018 11:50am There are some keys to estate planning to keep your money in your family after you die, said Mike Collins with the Collins Firm. (Thinkstock) This content is sponsored by The Collins Firm WASHINGTON — Part of estate planning is making sure your inheritance goes where you’d like after your death — but how can you ensure endowments are protected long after you’re gone? People focus on wills and avoiding probate during estate planning, but people still need to focus on what’s going to happen after a recipient gets the inheritance, too, said Attorney Mike Collins with the Collins Firm. Why it’s important to have an estate plan Sponsored Content “What if they get sued in the next month? What if they die prematurely? What if they are incapacitated down the road? What if they are in rocky marriage and there’s a divorce?” Collins asked. “It’s all about how we protect their inheritance once we’re gone and they’ve got it. How do we keep our money in our family instead of some creditor or bankruptcy court or an in-law?” One option is to keep the shares in a “reservoir trust” for inheritors, Collins said. That means rather than the inheritors getting outright ownership once the person dies, the trust’s set of instructions gives the inheritor principal for certain purposes, such as medical and education expenses.
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