bios,

and i spoke to a financial advisor recently who informed me that trusts are no longer protected in a marriage situation, especially when kids are involved and neither is inheritance.

Best advice I can give parents with adult children that they want to inherit their assets, don’t give it to them. Just allow them to use the assets. What do I mean by that? Simple.

You own a house free-and-clear. You are retired. You have an RV and you want to roam the world. But your son or daughter does not have the kind of earning power to pay for the house that you own. So you let your son or daughter rent your house for $0 a month. You keep the asset, but they use it for free.

Now, son or daughter marries a bleep. There is nothing you can do about that but the bleep son-in-law or bleep daughter-in-law know THE LAW. They are going to get THEIRS that’s for damn sure. So they divorce your son or daughter and want half the house because it was community property.

WHOOPS!!!! Your son or daughter are protected because they don’t own the house. YOU DO. It’s still yours not theirs, you are just letting your child use it for free. There is NO LAW that allows divorced spouses access to assets not owned by their former spouses. They can’t take half something that they spouse never owned. You can do this boats, cars, houses, businesses, anything. Never give it to your kids, just let them use it. So you protect your kids from their own marrital incompetence.

If you are going to put in into a trust, make sure the trust owns it and never your kids. There are some anti-trust laws against perpituities, but those are for trusts going a long-long time.