We pride ourselves in taking a thorough approach to estate planning. Planning for your future is important and we are capable of creating all your legal documents to protect you, your assets and your beneficiaries.
If you have children, especially minor children, it is crucial to plan in advance for their financial futures. Many parents dream of college for their children and estate planning can play an important role for that goal.
Minor Education Trusts
A Minor Education Trust allows you to plan when money will be distributed to your children when they turn 18 or enter college to pay for their education after high school. This sort of trust distributes a certain amount of money each year to the beneficiary to pay for tuition, books, and supplies for college. If the beneficiary no longer decides to attend school you are also able to create a clause in the trust that stops payment distributions, so that the hard earned money you saved for the child is not being spent on frivolous items that are not related to education.
Planning for a child’s future in case anything may happen is an important thing for every parent to execute. A Minor Education Trust is a great way to plan financially for your child’s future. If achieving a college degree is important to you and your family, then contact us at Estrada Legal so we can create a Minor Education Trust for your children. This form of estate planning also guarantees that your hard earned money and savings will be used to benefit the lives of your children.