• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Wilcox Attorneys, PA

Wilcox Attorneys, PA an Arkansas Estate Planning & Trust Information Center

Northwest Arkansas Estate Planning Attorneys (479) 443-0062

Client Vault
  • Home
  • Our Firm
    • Our Firm
    • About the American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • News & Events
    • Speaker Connection
  • services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • Secure Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Webinars
  • Practice Areas
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Resources
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Frequently Asked Questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Incapacity Planning
      • Legacy Wealth Planning
      • Medicaid Planning
      • Pet Planning
      • Probate
      • Trust Administration & Probate
    • Newsletters
    • Pre Consultation Form
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
  • Blog

How Can I Keep My Son-in-Law from Getting His Hands on My Daughter’s Inheritance?

February 17, 2012 by Deb Sexton Leave a Comment

We hear these type of questions all of the time:  “How can I keep my son-in-law from getting his hands on my daughter’s inheritance?”  It’s a good question since we never know when the in-law will become the outlaw, so to speak.  Protecting your child’s inheritance is an important part of estate planning and it can be done.  After all, 50% of all first marriages end in divorce while 60% of all second marriages end in divorce.

Here are some asset protection points to consider.  Be sure to consult with a qualified estate planning attorney regarding your individual situation.

  • If you give your daughter her inheritance outright, it can be taken by creditors and her divorcing spouse.

 

  • If you give your daughter her inheritance in an individual trust share, with protective language, it CANNOT be taken by creditors and a divorcing spouse.

 

  • Talk with your daughter and explain that it is imperative that she keep her inheritance in the trust.  If she pulls assets out of the trust and commingles them with marital assets, they become marital assets and can be taken by her husband.  For example, if your daughter wants to open an investment account or buy a house, she should do so in the name of her trust, not in her individual name.

 

  • Either name an independent trustee (bank, trust company, or professional advisor) as the trustee of your daughter’s trust or name your daughter as a co-trustee with another trustee.  For flexibility, you can allow your daughter to choose the co-trustee.

 

  • If you’re interested in passing assets to your daughter while you’re still alive, you can do so.  Just do it in a trust, to provide asset protection.

Make a list of your estate planning questions and consult a qualified estate planning attorney.  Be sure to chat about asset protection to protect your child’s inheritance as it is important for everyone.

  • Author
  • Recent Posts
Deb Sexton
Latest posts by Deb Sexton (see all)
  • Estate Planning is Essential Whether You Are Married or Not - April 25, 2018
  • Income Tax Basis in Estate Planning – Part 2 - April 23, 2018
  • The Downsizing Generation: How to Handle a Surplus of Stuff When a Loved One Ages - April 18, 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Wilcox Attorneys, PA

DOWNLOAD OUR FREE ESTATE PLANNING WORKSHEET

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Subscribe to Our Blog

Subscribe to our blog for all the latest estate planning news and updates!

Office Address

Fayetteville
2766 Millennium Drive
Fayetteville, AR 72703
Phone: (479) 443-0062

Office Address

Prairie Grove
1100 Division Street, Suite 4
Prairie Grove, AR 72753
Phone: (479) 846-6026

( By Appointment Only )

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for office
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.