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Let values be your trustee’s guide – A principle trust may be a better option than an incentive trust


SKU: ESTso103. Category: .


Abstract: As they create their estate plan, many people want to pass their wealth on to their children, but also want the peace of mind that the kids will manage the inheritance with responsibility and care. An incentive trust is one option, but there are drawbacks — primarily rigid distribution rules. But, as this article explains, a principle trust can provide more flexibility. Rather than setting rules for distributions, it allows a person to set the principles and values they want the trustee to follow. However, it’s important to be at ease with the trustee having broader discretion.

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