3 ways you can use a Trust to build Generational Wealth

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3 ways you can use a Trust to build Generational Wealth

Posted by Ada Davis | Aug 12, 2020 | 0 Comments

Here are a few suggestions you may want to consider when leaving assets to your heirs- particularly if you want to build generational wealth:

Push back the age of inheritance beyond age 18. By doing so, you ensure that your heirs received their inheritance at a time when they are more mature, and less likely to squander those assets. 

Furthermore, you can designate the funds in your trust to be used for wealth-generating activities only. For your family, this might mean going to college, starting a business, or even buying real property. 

You can also build protections into your trust to insulate your assets from depletion. Such protections can be beneficial even during your lifetime, and ensure that creditors, claims of liability, or even divorce don't stop your assets from being available for the next generation, so that your legacy can continue.

About the Author

Ada Davis

Counselor. Teacher. Advocate. Attorney Ada A. Davis is a graduate of Georgetown University Law Center. For more than fifteen years she has practiced law in the New Jersey and New York areas, including working as an associate at two big law firms in New York, NY. For the past nine years she has m...

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