| cl | | | | protected, (2) creditor protected and (3) divorce |
| Estate planners use trusts to protect beneficiaries | | | | protected â while at the same time allowing |
| from their inability, their disability, their creditors and their | | | | the primary beneficiary to control the trust as a |
| predators. Included under âcreditorsâ | | | | co-trustee. In essence, the primary beneficiary has |
| are the IRS and divorced spouses. Most traditional | | | | nearly all the rights, benefits and control over the trust |
| trusts distribute the assets when the beneficiary | | | | property that a person would have with outright |
| reaches a certain age or ages, with the last distribution | | | | ownership â in addition to tax, creditor and |
| terminating the trust. | | | | divorce protection not available with outright ownership. |
| More sophisticated estate planners generally create | | | | Such trusts are sometimes referred to as |
| multi-generational dynasty trusts for their | | | | âbeneficiary-controlledâ trusts. |
| clientsâ descendants that are (1) estate tax | | | | |