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What happens if I give my son a share of my estate and he gets divorced?

June 9, 2012

This is one of the most common questions that I get asked by couples with children. I was recently asked this by a client, and I asked if her son’s marriage was having difficulties. She replied “Oh no, he’s not married; doesn’t even have a girlfriend yet. But I just want to be prepared in case…!”

Legally, there are different vehicles that we can use to plan an estate, including Trusts, Holding Companies, Gifts with mortgages or loans attached, and so on. However, often the question is not “What CAN I do”, but “What SHOULD I do?”

Thus, in helping clients prepare their Estate Plan, we will often advise them to bring in advisors such as relatives, pastors, and close friends as well as financial planners and accountants to help them decide the “what should’s” before we help them implement the “what can’s”.

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