Protect Your Legacy with ‘Bloodline’ Planning.
If you want to ensure that the assets you’ve accumulated over your lifetime are protected and passed down through your family bloodline, a “Beneficiary Controlled Trust,” (or BCT), accomplishes that goal with powerful benefits.
The New York-based trust lawyers at Pierro, Connor & Strauss form and develop BCTs for their clients who may be concerned, for example, that your son’s estranged spouse will file a claim against assets you leave your heirs in a divorce proceeding; in effect, siphoning off the wealth you’ve worked a lifetime to accumulate. Or imagine that after you die, your daughter loses a lawsuit with a large cash settlement, which the creditor seeks to collect against the assets you left her. BCTs will insulate your children from these types of financial drains, including lawsuits, divorces, bankruptcies, and even Medicaid.
In effect, BCTs give you the strongest possible assurance that your assets will go to the people you choose, your children and grandchildren with little or no risk of dilution by third-party claims.