Spendthrift Trust

Is Your Estate Plan Prepared for a Bankrupt Beneficiary?

In these uncertain economic times, many people from all walks of life are turning to bankruptcy to receive the protection they are entitled to under federal law. When planning your estate and drafting a will, one should consider the possibility of a beneficiary declaring bankruptcy. If such a bankruptcy has been filed near in time to your death, your property may go to creditors of a beneficiary instead of your family member, friend, or other beneficiary.

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