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Imagine if you could protect your child from being harmed by third parties for the rest of their life? And in some cases, even protect them from themselves if necessary?
While no one wants to control their child from the grave, many of us parents want to protect our children from ill-intentioned people who do not have their best interests at heart.
In California especially, we have way too many unfair lawsuits, failed marriages, addictions, and predators that can financially wipe out our children. No one wants to leave their hard-earned money behind to their children, only to have it taken from them.This is why you should consider leaving your money behind for your children through a Lifetime Asset Protection Trust (L.A.P.T.), which is really just a LOVE Trust. The L.A.P.T. allows you to leave money behind to your children while protecting it from ill-intentioned third parties.

Here are some key characteristics of the L.A.P.T.:

  1. Protects Money From Outside Parties: The L.A.P.T. protects the money you leave behind for your children from being taken by lawsuits, creditors, predators, and divorce.
  2. Provides Responsible Support: The L.A.P.T. provides for your child’s health, maintenance, education, and support needs but also offers an option to encourage your child to have a strong work ethic, and not become a “trust fund” baby dependent on just the trust.
  3. Provides Control For Child: The L.A.P.T. allows your child to manage the trust themselves upon turning a certain age, as chosen by the parents (commonly between ages 30-35), however, there are options to block a child from managing their own trust if they develop an addiction or have other situations that put their judgment at risk.
  4. Keeps the Money in the Family: The L.A.P.T. allows you to ensure that the money left in the L.A.P.T. at the end of your child’s lifetime will continue down the family line but does allow you the option to allow your child to leave it outside the family if you want them to have that option.

If you want to learn more about whether the L.A.P.T. is best for your children, talk with us today about how it works and how we can customize it to fit perfectly for your family’s needs. Call your California family trust lawyers in Newport Beach at the Meier Law Firm at (949)-718-0420 to learn more.

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One conversation, at whatever pace your family needs. We will help you understand which path you are on, what the deadlines are, and what does not need to be rushed.

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Newport Beach Estate Planning Attorneys

Who Will Protect Your Family’s Future