Wealth Advisor’s recent article, “Even Brad Pitt Has Prepared A Will (And A Post-Divorce Trust),” reports that 54-year-old Brad Pitt has decided to make a will and leave all his millions to his children. It appears that this high-paid actor wants to shield his fortune from his ex-wife Angelina Jolie, as they battle through their divorce. Or perhaps he is being responsible and leaving the assets to his children in trust to avoid probate and access to the money by the children when they are minors or unable to manage such a large sum of money. The money is going to be divided equally between his children.
A family friend continued: “Brad has a ton of money in the bank. Now, while he’s still got all his faculties, he wants to take steps to make sure his children get it, and it’s protected from their mother.” Coincidentally, this is not at all unusually when families are divorced.
It’s reported that Pitt’s millions will be put in a trust for his children. Jolie won’t be able to reach those funds, even after Brad’s passed away.
Whether you are celebrity like Brad Pitt, have millions of dollars, or not, leaving assets in trust for your children is a prudent move. Not only does it avoid probate when you die, it provides protection for the children from themselves as well as other who would want to prey on them because of their money. This is especially important when you have minor children.
One of the main goals of our law practice is to help families like yours plan for the safe, successful transfer of wealth to the next generation. Call our office today to schedule a time for us to sit down and talk about your estate plan, where we can identify the best strategies for you and your family to ensure your legacy of love and financial security. Our office is located in Santa Ana, CA but we serve all of California including Irvine, Orange, Tustin, Newport Beach, and Anaheim.
Reference: The Wealth Advisor (September 28, 218) “Even Brad Pitt Has Prepared A Will (And A Post-Divorce Trust)”