Page 3 - Martin Downs Bulletin - October '19

Martin Downs, Page 3

Audi Stuart Air Show from page 1 will experience a very special day on Nov. 1 where they Dirty Flight Suit Party. The “Race the Runway 5K” is
will get the first look at the 2019 show, meet the pilots back by popular demand allowing runners the chance to
and there are a reportedly 60,000 STEAM-centric jobs and explore all that STEAM World has to offer. race through Martin County Airport in the hours before
that remain unfilled. The experience will be open both Saturday and Sunday the show on Sunday, Nov. 3.
Organizers hope to introduce students to potential of the air show for general admission. From aviation enthusiasts and military veterans to
mentors, broaden the horizon of a student’s career and The Audi Stuart Air Show will be held Nov. 1 through families looking for a weekend activity, all can appreciate
education options, and to make the air show a curriculum 3 at Martin County Airport – Witham Field. Festivities what the air show brings – the nostalgia of historic static
extension of the local classroom. kick off on Friday, Nov. 1 with a spectacular night show displays, the sophistication of modern-day aircraft,
Over 800 students from Martin and St. Lucie counties and fireworks display as well as the exclusive TD Bank and the roar of military jets and thrills of aerobatic
performances.
Pre-sale tickets are available online at www.
TAKING CARE OF FAMILIES ON THE stuartairshow.com.
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Trusts For Children

By Bruce Abernethy
We continue to One critically important
welcome new patients aspect of a thoughtfully
and invite you to visit
our website for special designed estate plan
offers. Complimentary is “how” assets are
consultations available 2812 SW Mapp Rd. | Palm City
upon request. (772)283-8350 passed downstream to
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Invisalign®, Cerec’s Cad-Cam Technology, across estate plans that
Facial Rejuvenation & Therapeutic Procedures provide that a child’s
inheritance pass to the child
outright immediately upon
death, or over time with outright distributions occurring upon
the child attaining certain ages (a portion distributed to the
child at age 30, another portion distributed at age 35, etc.).
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For obvious reasons, leaving an inheritance outright to an
heir who lacks the ability or maturity to effectively manage
assets for his or herself (due to age, life circumstances, etc.)
would be inappropriate and potentially damaging to that heir.
However, outright transfers to an heir who does display the
maturity to manage their inheritance on their own can be just
as harmful.
Leaving assets outright to an heir exposes these inherited
assets to the heir’s present and future creditors. Imagine a
situation where a $1,000,000 inheritance if left outright to
a child and the child subsequently became involved in an
automobile accident where their liability in the accident
exceeded their insurance coverage limits. Unless the child
took some action on their own accord prior to the accident to
“protect” this inheritance, this $1,000,000 would be exposed
to their creditor.
Now instead, imagine that this same $1,000,000 was left
to your child in a trust for your child. Your child would even
be able to manage this trust for his or herself – thereby giving
the child substantially similar access to their inheritance as
if it were left to them outright. In this scenario, the fact that
you executed a thoughtfully designed estate plan will protect
your child’s inheritance from being reached by this creditor.
This exposure to “creditors and predators” for your child
in this example is not limited to automobile accidents. A failed
marriage or risks associated with a child’s profession are other
examples of situations where an outright inheritance could
be exposed. This is one of many reasons why contacting an
experienced attorney to design an estate plan that fits your
individual needs is so important.
Bruce Abernethy, Jr. is an attorney and counselor at law,
board certified in wills, trusts, and estates. Learn more at
bruceapa.com.

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