Beneficiary
What Is an Inheritor’s Trust?
Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance.
June 15, 2026
Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance.
You have decided to meet with an estate planning attorney to get your affairs in order and ensure that your loved ones are protected. Now that you have scheduled the appointment, it is time to get yourself organized and prepare for the first meeting.
Comprehensive estate planning also addresses what will happen if you become mentally incapacitated (unable to manage your affairs) due to illness, injury, or cognitive decline, or if you need to be away from your business for an extended period.
As a business owner, planning for retirement requires more effort, foresight, and strategy. In addition to navigating the wide range of retirement account options available to business owners, you must also ensure that your chosen strategy aligns with your overall estate plan.
If you prefer the idea of transferring your business to longtime, trusted employees who have contributed to the company’s success over the years, there are two options to consider: a management buyout (MBO) and an employee stock ownership plan (ESOP).
A comprehensive estate plan is also meant to positively impact your life by planning for and providing necessary protections while you are still around to reap the benefits.
If you and your partner choose not to marry, you must have an estate plan tailored to your individual situation. Without an estate plan, your partner generally has no legal authority to make decisions for you if you become injured or incapacitated (unable to manage your own affairs) or to inherit from you when you pass away.
Since creating your estate plan, have you thought about updating it? If you are like most people, probably not.
As the person in charge of winding up your loved one’s affairs, you may find yourself juggling many tasks: planning the funeral, coordinating with relatives arriving from out of town, and meeting with an attorney to start the legal process of paying for final expenses and any outstanding debts so the money and property can be distributed to the appropriate recipients. Be sure to take care of yourself during this emotional time.
Once you are married, you will be uniquely situated to provide meaningful support for your spouse after your passing through special estate planning tools available only to legally married individuals.