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By Jim Miller
Savvy Senion 

Incentive Trusts can motivate even your wayward heirs

 


Dear Savvy Senior,

What can you tell me about incentive trusts? I have two adult children that are financial disasters. Before I die, I want to put some type of requirements in place that they will need to follow in order to receive their portion of my estate. Otherwise, they’ll blow it all in the first year.

Troubled Parent

Dear Parent,

If you want to influence your family members even after you’re gone, an incentive trust is definitely an option to consider. Here’s how it works, along with some tips to help you create one.

Incentive trust?

An incentive trust is an estate-planning tool designed to help prod your heirs in a direction you desire when you’re no longer around.

Wit...



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