If you have a loved one with an addiction, you know that protecting them from themselves is a difficult task. It can be painful to imagine what will happen to that loved one when you pass away. An Addiction Trust, as part of your overarching estate plan, may be the solution. A carefully tailored estate plan including an Addiction Trust helps you provide for your loved one without feeding their addiction or endangering their well-being.
Effective Addiction Trusts are designed to make sure your loved one always has access to basic needs and incentivize them to receive greater benefit from the Trust if their addictive behaviors are under control. These trusts are also designed to set guidelines with consequences based upon behavior, administered by a third party who cannot make cash distributions to the addicted individual and uses reasonable means to prevent purchasing anything the individual can use to convert into cash to further their addiction.
