No Trust or UTMA for Children With a Pot Trust

If you’ve left everything–-or nearly everything--to your children in a pot trust, do not set up a child’s trust or UTMA for your children.

If you've set up a pot trust, the terms of the pot trust apply to all of the property your children will receive under your will. No other property management is needed for that property.

This also applies if you’ve left everything to your children in a pot trust as an alternate plan to leaving everything to your spouse. If you’ve set up a pot trust, you do not need an UTMA or a child’s trust for your children.

That said, you may still want to:

  • Set up an UTMA or child’s trust for any young beneficiaries of your will who are not your children.
  • Name a property guardian to manage any property that your children acquire outside of your will – like income, life insurance, or inheritance from others.

Talk to a Bankruptcy Lawyer

Need professional help? Start here.

How it Works

  1. Briefly tell us about your case
  2. Provide your contact information
  3. Choose attorneys to contact you
FEATURED LISTINGS FROM NOLO
Swipe to view more
NEED PROFESSIONAL HELP ?

Get debt relief now.

We've helped 205 clients find attorneys today.

How It Works

  1. Briefly tell us about your case
  2. Provide your contact information
  3. Choose attorneys to contact you