No one wants their family fighting over their assets after they're gone. One thing that motivates many people to create an estate plan is the desire to prevent such battles. Indeed, by putting an estate plan in place while there's no question of your mental clarity, you can ease any concerns that you didn't understand what you were doing or were unduly influenced by someone else. However, besides not procrastinating, there are other things you can do to lessen the chances of a legal battle over your estate.
A spendthrift trust can protect your money -- and your child
If you're a parent of adult children, you likely want to leave some of your assets to each of them. However, what if one of your kids has never learned how to be responsible with money? You fear they could blow through their inheritance, no matter how substantial, in no time rather than investing it or putting it towards their own retirement savings.
