Legal Question in Wills and Trusts in New Jersey

Re: Inheritance & back taxes

While I do not condone the avoidance of paying your back taxes, my suggestion is that your father create a trust, by-passing you and naming your children as ultimate beneficiaries. It could include the potential for discretionary use of the funds for you during your lifetime, and also include no final distribution to your children until you have died. This way, while the trust assets are protected from your creditors reaching them, should you face some emergency (like a medical problem) the funds could be used, or, if your tax problem is cured, you could come back as a contingent beneficiary. If you or your father needs assistance is the preparation of the document, contact me directly.