You may be surprised to learn that unless you take steps in advance to protect what you've left for your children, it could be lost in the event your child gets divorced.

The fact is, about half of all marriages end in divorce and any money you leave to your kids could potentially end up in the hands of their ex-spouse.

A colleague of mine shared the story of one of her clients who inherited a significant amount of money when her mom passed away. Like many married couples, the client intermingled the inheritance with the normal day-to-day finances. The client was then shocked to discover that her soon-to-be ex-husband was entitled to half the money she inherited from her parents.

No doubt her parents would be shocked as well knowing the money they had left for their daughter would be going to her soon to be ex-husband.

It doesn't have to be this way. You can include provisions in your estate plan that would protect the money you've left behind for your kids in the event they ever get divorced. You can also include provisions that protect the money you leave for your kids in the event they ever become disabled, get sued, have a substance abuse issue, or simply have poor money-management skills.

You've worked hard to set aside money to take care of your kids. With careful planning you can make sure they do not lose the money you leave behind to their creditors or future ex-spouse. 

Chuck Roulet
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Nationally Recognized Estate Planning Attorney, Author, and Speaker