IL estate lawyerIf you have family wealth to preserve for future generations, you need a trust. Trusts are far more protective of generational wealth than a will. If you use a will, your only option would be to have each of your children claim their entire inheritance immediately. A trust can preserve the wealth over a long period of time and allow your estate to continue growing in value long after your death. You may want to create multiple types of trusts to serve different purposes. A Yorkville, IL trusts and estates attorney can help you design the right estate plan to preserve your generational wealth for decades to come.

How a Long-Term Trust Preserves Wealth for Future Generations

A few of the ways a trust can protect generational wealth include:

  • Building trust principal – Your trust principal can continue growing if you direct your trustee to continue investing the funds contained within your trust. For this to work, you must choose a financially savvy and responsible trustee who is capable of making sound investments. You may want to consider choosing a professional trustee.