![]() ![]() Names and identities have been changed for attorney-client privilege requirements. Case studies are actual LegalShield member experiences. Neither PPLSI nor its officers, employees or sales associates directly or indirectly provide legal services, representation or advice. See specific details on terms, coverage, pricing, conditions and exclusions in the Personal Legal Plans or Small Business Legal Plans sections of this website. Use of this website and the services is subject to PPLSI’s Terms of Service and Privacy Policy. (“PPLSI”) and provides access to legal services offered by a network of provider law firms to LegalShield members and their covered family members through membership- based participation. LegalShield is a product of Pre-Paid Legal Services, Inc. The benefits and prices described are not available in all states and Canadian provinces. This website gives a general overview of legal plan coverage. Join LegalShield today and contact your provider law firm for assistance. Depending on your family and your life, a provider lawyer can tailor a Trust to meet your specific needs. Trusts are a great way to safeguard your children by making sure your money is protected and that it’s used to care for your kids according to your wishes. You could also, for example, stipulate that certain funds could only be used for college tuition payments. Until your child reaches the designated age, the named trustee could be allowed to use funds in the Trust to pay for your children’s health care, education or upbringing. For example, you can dictate that a child can access the funds only after they reach a certain age. The testamentary trust is administered by a trustee until the child reaches a stated age, at which point the assets are then transferred to the child.Ĭreating a Trust for minor children allows you to set rules for the use of your assets. ![]() A common example of a testamentary trust is one created by a parent leaving assets to a child. The assets to fund a testamentary trust usually go through probate. Testamentary Trusts are created after your death, by the terms of your will.
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