Opioid trust can be estate planning solution for concerned parents

The epidemic of substance abuse by young adults is causing parents to consider how best to provide in their estate plans for children who have this disorder.

A special type of trust called an “opioid trust” can be a solution. It would name a trustee to continue the parents’ efforts to help in the child’s recovery; it can also protect the child’s property from creditors and maintain their eligibility for government benefits.

Rather than a true monetary inheritance, the trust takes care of recovery expenses to incentivize beneficiaries to eliminate addictive behavior. Read more about this issue on muslaw.com.

– Martin J. Hagan, Meyer, Unkovic & Scott, mjh@muslaw.com