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Trust. Will. Estate Plan. These are terms you have likely heard but may not have clarity on what exactly they do or what legal tool you need. This is common. Our clients come to us knowing they want to protect their children, but unsure of what next steps to take.
Let’s look at Michael Jackson for a minute. His name may bring to mind Thriller or the Jackson 5, but Mr. Jackson was also a father to 3 minor children. He understood the importance of planning for the future of his kids. He created a trust to protect his estate for the benefit of his children and his mother. He also recognized that young adults are not always capable of properly handling large amounts of money, so he instructed that upon his death his children should receive specific amounts at specific ages.
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