I am ill and need to hire an estate planning attorney. How do I pass IP inheritance to a minor child and bypass his parents? I do not like his parents who are, unfortunately, related to me. I also need advance healthcare directive.
3 Answers from Attorneys
I am sorry you are not well, but it is good that you are planning for the future. Exactly how to bypass the parents depends on the exact relationships and what other living family members you have, but the basic answer is to put the IP into a trust with the child the beneficiary and name someone you really trust instead of the parents as trustee. As for the advance healthcare directive, that is quite simple and can be done along with whatever other documentation is needed to implement your estate plan.
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As for the minor child, the IP inheritance should be directed and held in trust for the minor's benefit. You can name a third party or private fiduciary to administer the trust so the parents will have no say.
I will provide you a will, trust, advanced health care directive and powers of attorney for a reasonable flat rate.
You should either use a trust, which will allow more specific direction as to how the porperty will be held and administered for the minor, or consider using a transfer under the California Uniform Transfers to Minors Act, which is a less expensive and less cumbersome alternative. In either case you will need to designate someone to manage the property, and this presumably will not be your family members whom you desire to bypass. Selecting the right tool will be important, but your wishes should not be difficult to implement. Any effective estate planning attorney shopuld be able to accomplish your wishes effectively.