Yes, this is included with our Living Trust Premium Package and is known as a descendant's Trust. A Descendants Trust is a special type of trust set up to benefit your children, grandchildren, and further generations. The primary purpose is to ensure that your assets are preserved and passed down to future generations in a controlled manner. In the NetLaw software, The Descendant's Trust for your children will provide for a “per stirpes” distribution. That means if one of your children predeceases you, then their children will receive their parent’s share.
Key Features:
Beneficiaries: The beneficiaries of this trust are usually your children, grandchildren, and other direct descendants. It provides a way to support them while controlling how and when they receive assets.
Control over distribution: You can specify the age at which your assets should be distributed to your descendants.
How to set up a descendant's Trust?
Click SmartGuide Interviews on the left side of your screen and select "Last Will + Living Trust" underneath
Click your name and then click "edit".
Navigate to the "Residuary estate" section and click "yes" to create a descendant's Trust. Specify the age in which your children should receive their inheritance.
Contact us should you need additional help with setting up a descendant's Trust.