Creating a Trust to Help a Spouse
Dec. 20, 2018
Most families in Myrtle Beach understand that life isn’t always perfect and that there are challenges that can arise at any time. Even with the most thorough planning, circumstances can change that affect a person’s goals. An estate plan that is able to adapt to life’s challenges can be a gift to a family.
As Myrtle Beach residents age, they don’t all age the same. Married couples can have one person who is in relatively good health while another needs caretaking. In these situations, a well-drafted trust to plan for disability care is a good idea. If a caretaker dies before the person they’re taking care of does a trust can ensure their care is still going to continue. The caretaker spouse can be the trustee while they are alive and if they pass away, the trust identifies a second trustee to continue to manage the trust. After both spouses pass, the assets remaining would be distributed the same way a will would allow.
Many Myrtle Beach area residents will need care when they get older. This care is often expensive and extensive. With a well-drafted estate plan, a person can ensure they receive the care they need and their spouse will need until the end of their life.
A properly drafted trust can offer a couple peace of mind and comfort that they will be protected until they die. For many seniors, this is a wonderful way to help them and their family. A legal professional who specializes in estate planning can help their client with their unique situation and draft an estate plan that will work for them now and into the future. An estate plan can be a way to not just pass on assets but to also take care of vulnerable children and adults.