Establishing Trusts for Children: Protection and Asset Management - with Tammy Fried

Divorce Dialogues

"There's something freeing about it. You can decide where you want your assets to go to. You can choose what charity. You don't have to listen to someone else now telling you, no, no, no, no, no." - Tammy Fried Tammy Fried, a seasoned attorney with over 25 years of expertise in tax trusts and estates, is dedicated to guiding individuals, families, and non-profits through the complex terrain of estate planning. As a founding partner of Radic Freed PLLC, she underscores the importance of tailoring estate plans to accommodate the evolving needs that arise across different life stages, from young couples embarking on family life to high-net-worth individuals navigating career changes or even divorce. Fried's strategic approach ensures her clients receive personalized solutions that address their unique circumstances, emphasizing the need to update essential documents like wills, trusts, and powers of attorney to reflect life transitions and safeguard their futures. Her perspective highlights the freedom and control individuals have over their estate plans, particularly post-divorce, allowing them to make informed decisions about asset distribution and guardianship without the need for negotiation, thus securing clarity and security for themselves and their beneficiaries. Key Takeaways: ->Choosing a guardian for children after divorce is crucial for their care and financial responsibility. ->Financial restructuring during divorce extends to estate planning, including reviewing beneficiaries and wills post-divorce. ->Updating estate planning documents after divorce is essential to prevent unintended consequences like assets going to ex-spouses. ->Ancillary documents like power of attorney and living will are essential for comprehensive estate planning. ->Leaving assets to kids in trust can protect them from divorce, lawsuits, and provide asset protection for the next generation. Connect with Tammy Fried: https://www.raddockfried.com/ https://www.linkedin.com/in/tammyfried/ Connect with Katherine Miller: https://www.linkedin.com/in/kemiller1/ https://miller-law.com/