[WSBAPT] What Kind of Trust

[Jim Doran]

This elderly client has some money that needs to be put into a Trust for
her own protection.  She was preyed upon by some "African Diamond Tycoon"
and gave away $700,000 over the past three years. I seem to recall the term
"Spendthrift Trust" in my memory banks.  Maybe we do not want to call it
that but we need to accomplish the same goals.  The client is willing to do
this and has her daughter available to act as the trustee.  This could be a
very good situation for the client.

What kind of Trust to use?  I have done many Special Needs Trust and I am
wondering if this might be a good vehicle.  The client is not receiving
public benefits now, other than Social Security.  But that could change.
She has about $400,000 to be put into an irrevocable trust.

Any thoughts on this, and perhaps a model, would be appreciated.

Jim Doran

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com
www.doranlegal.com
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