While many people want to leave an inheritance for their children, what they should be leaving for their children is a legacy. When people plan with a trust estate attorney and plan only for an inheritance, most of the time that money and those assets are gone within a year or two of the time they inherit them. However, with a legacy that is left behind in a trust, this inheritance can shape their lives for a long time to come.
When you leave behind a trust like this, it can even benefit another generation of descendants and raise their quality of life. It also doesn’t take away the children and grandchildren’s drive to succeed in their careers and lives. This is an important part of the equation because a regular inheritance often does this, and then it doesn’t last very long.
If you work well with a trust estate attorney and plan out a helpful trust to leave behind a legacy, the results can be a lot better than with a regular inheritance. Be sure to let your attorney know what it is that you want to leave behind so that it can be planned for the appropriate way.