An interesting article in the Wall Street Journal describes how trusts can insure that your wishes are carried out after you are gone.
Can you force a grandchild to take a drug test in order to receive an inheritance? Insist your heirs use trust funds only for tuition at your alma mater? Make sure your wife’s future husbands can’t run through money you worked hard to earn?
In many cases, the answer is yes—you can, in effect, control your heirs from the grave.
If you are concerned about the ability of your spouse, children or grandchildren to manage their inheritance, it may be time to meet with a financial planner or an estate planning attorney to see what can be done. If you don’t have one, we can refer you to professionals we have worked with.