Inheritance Heists Ch. 1: Prevention Strategies

I’m Mike Hackard with Hackard Law.  I’m sharing passages from my new book Inheritance Heists – and in this video I’ll provide some guidance for preventing a trust distribution meltdown.

While no strategy can guarantee the prevention of all trust disputes, there are several steps that settlors, trustees, and beneficiaries can take to minimize the risk of a distribution disaster:

• Clear and specific trust language: Engage experienced estate planning attorneys to draft trust documents with precise, unambiguous language.
• Regular trust reviews and updates: Review and update trust documents periodically, especially after major life events or changes in family dynamics.
• Choosing the right trustee: Select trustees carefully, considering not just their financial acumen but also their interpersonal skills and understanding of family dynamics.
• Open communication with beneficiaries: Foster open dialogue about the trust’s purposes and provisions to manage expectations and reduce the likelihood of surprises.
• Professional legal and financial advice: Seek ongoing professional guidance to navigate complex legal and financial landscapes.

If you’re up against an estate disaster and you need help, you can call us at Hackard Law: 916-313-3030.  We want to hear your story.

Hackard Law: Advocating for the vulnerable, one estate at a time.