Savvy Senior


November 29, 2023

By Jim Miller

How an Incentive Trust Can Motivate Your Heirs

Dear Savvy Senior,

What can you tell me about creating an incentive trust? I have an adult son and daughter that are both financially inept. Before I die, I want to put some type of requirements in place that they will need to follow in order to receive their portion of my estate.

Frustrated Father

Dear Frustrated,

If you want to influence your heirs even after you're gone, an incentive trust is definitely an option to consider, but be careful how you construct it because it can cause unintended, unfair consequences. Here's how i...

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