Most Florida Wills and Florida Trusts leave their assets outright in equal shares to their children when they die.  What most people do not understand is that often this results in disinheriting the grand children.  Suppose after you die, you child dies.  Typically your child would have left everything to his spouse leaving your grandchildren with no part of the inheritance.

Instead of leaving your assets outright to your children, consider the advantages of leaving your assets to trusts for the benefit of your children which you can create during your lifetime.

A descendant's trust is created by you.  Typically this can be done in your revocable living trust where you get to name your child as the trustee and the beneficiary when you dies.

There are many reasons to use descendant's trust within your Florida estate plan:

• The assets are protected from a spouse in the case of your child's future divorce.
• The assets can be protected from your child's creditors.
• The assets are not part of your child's taxable estate in the event of their incapacity or death.
• The assets can be removed from your child's estate so that he or she will not have additional estate taxes due on the value of the assets.
• The assets are sheltered from lawsuits against your child. 
• Upon the death of your child, the assets will go to your descendants (grandchildren or your child's siblings)

The time to create descendant's trusts is when you are creating your own estate plan. Contact us by email or call Florida Estate Planning Lawyer at (904) 685-1200 to discuss how descendants trusts can benefit your family.