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KNOW YOUR OPTIONS TO HELP PROTECT BENEFICIARIES ASSET DISTRIBUTION DONE RIGHT
Discussions about inheritances are often delicate. However, the goal is to consider the unique circumstances of your children or other beneficiaries. You want to provide for loved ones without offending anyone in the process, yet some are more responsible with money than others, and you want to help them make the most of their inheritance. Here are a few suggestions to set your family up for success after you pass. No-Contest Clauses Employing a no-contest clause in your will can eliminate any potential in-fighting or contention to break away from your wishes. It automatically disinherits any contentious family members. If you know your kids enjoy bickering, then adding this no-contest clause puts them on notice to leave their bickering aside, especially in court. Preventing a long, drawn-out court mess is a surefire way to take care of your family. It’s an easily added clause; you just have to choose to include it. A Living Trust Establishing a living trust is one way to delineate how you want your assets to be distributed after you pass, and you can revoke or change it at any time while you’re still around. You can set up a few different ways for the successor trustee to distribute assets
from the trust, depending on your family circumstances: outright distributions, staggered, or discretionary. An outright distribution means beneficiaries receive assets without any protections — but an irresponsible recipient might squander the inheritance very quickly. The staggered distribution allows you to set the rules about how and when funds will be distributed or if any triggering events will play a role (turning 18, marriage, etc.). The last option is to give your successor trustee discretionary power to distribute assets — they will decide when and what a beneficiary will receive. Choosing the Right Trustee Whichever distribution option you choose, selecting the right person or entity to be your trustee (an individual, a private fiduciary, or a bank) is crucial. They should be trustworthy and fair, especially if you grant them discretionary power. They’ll be in charge of making sure your assets are distributed according to your wishes — and their best judgment. Being firm in your care for others won’t make you the villain. Thankfully, you can share your legacy and assets according to your best judgment and discretion. You have several options and tools — just remember, you know your children best.
ST. PADDY’S IRISH SODA BREAD
Inspired by Epicurious.com
Ingredients
Directions
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Nonstick vegetable oil spray 2 cups all-purpose flour, extra for dusting 5 tbsp sugar, divided 1 1/2 tsp baking powder 1/2 tsp kosher salt 3/4 tsp baking soda 3 tbsp chilled unsalted butter, cubed
1. Preheat oven to 375 F. Coat an 8-inch round cake pan with nonstick spray. 2. In a bowl, whisk together flour, 4 tbsp sugar, baking powder, salt, and baking soda. Cut butter into the mixture with your fingers or a pastry knife until crumbly. Make a well in the center and pour in buttermilk. Gradually mix until dough comes together. Mix in raisins. 3. Using floured hands, form dough into a ball and transfer to pan. Sprinkle with remaining 1 tbsp sugar. 4. Bake bread for about 40–45 minutes or until golden brown and a tester stick comes out clean. Let bread cool in the pan for 10 minutes, then enjoy!
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SUDOKU
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1 cup buttermilk 2/3 cup raisins
3 www.LT-ins.com
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