Providing Structure for a Beneficiary

Recently someone asked and I will paraphrase, “Almost all of
my stocks, bonds and CD’s are in joint name with my spendthrift son. How can I protect him from wasting this inheritance when I die?” I explained that it is virtually impossible to plan to protect your son from going on a spending binge since the bulk of the assets are held jointly with him. I further explained to her that the only way to provide a structure for him after you die is through a Will.  Unfortunately, a Will can only distribute assets that are in the name of the deceased NOT jointly held assets. The first thing she must do is to remove her son’s name from all of the jointly held assets.
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How One Couples Estate Plan is Changing the Lives of Students

Very often people ask what we do at Garden State Trust Company and my answer is WE HELP INDIVIDUALS STRUCTURE THEIR ASSET AND ESTATE PLAN IN ORDER TO PROVIDE SOLUTIONS FOR GROWING AND PRESERVING ASSET VALUES FROM GENERATION TO GENERATION. How we do this is through administering to trusts as trustee, providing investment management and settling estates as executor.
Continue reading “How One Couples Estate Plan is Changing the Lives of Students”

June 2013

 

Very often people ask what we do at Garden State Trust Company and my answer is WE HELP
INDIVIDUALS STRUCTURE THEIR ASSET AND ESTATE PLAN IN ORDER TO PROVIDE
SOLUTIONS FOR GROWING AND PRESERVING ASSET VALUES FROM GENERATION TO
GENERATION. We do this through administering to trusts as trustee, providing investment
management and settling estates as executor. Continue reading “June 2013”