Protect Inheritance for Your Loved Ones

provided to Santiva Chronicle

Sanibel Captiva Trust Company Wealth Advisors, Steve Greenstein, left, Robin L. Cook and Jeff Muddell pose with speaker Craig Hersch of Sheppard, Brett, Stewart, Hersch, Kinsey & Hill P.A. at the third of the Trust Company’s speaker series programs.

The Sanibel Captiva Trust Company hosted an estate planning program this week at The Community House with featured speaker, Craig R. Hersch, partner of Sheppard, Brett, Stewart, Hersch, Kinsey & Hill, P.A. in Southwest Florida. More than 85 guests attended the presentation to hear how best to set up an estate plan and trusts to protect the inheritance being left to loved ones.

Hersch explained the myriad ways an inheritance is at risk. “Your loved ones’ inheritance can be vulnerable to creditors, predators, divorcing spouses, child support, high risk occupations, business owners, general liability, such as car accidents, and spendthrift or financially unsophisticated beneficiaries,” he said.

He went on to discuss the features of Revocable Trusts and Irrevocable Trusts, as well as Spendthrift Trusts and Discretionary Trusts. All have a place and application that is appropriate for their use. Hersch also covered the new Secure Act which addresses inherited IRA accounts and how inheriting children or non-spouses must draw upon them. He said, “The ability to protect hour loved ones’ inheritance dies with you,” advising that it is best to take action on establishing the right trust sooner than later. Each attendee received Hersch’s book, Common Cents Estate Planning II.

The remaining programs of the Sanibel Captiva Trust Company Speaker Series include:

Tuesday, March 10
“Election Results and Your Portfolio” with Director of Research, Timothy P. Vick, The Sanibel Captiva Trust Company

Tuesday, March 31
“The Seven Deadly Financial Sins” with Robin L. Cook and Steve Greenstein, Wealth Services Advisors at The Sanibel Captiva Trust Company

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