Inheritance protection

[BMitch1011]

I have a question regarding protection/preservation of some inheritance money. The inheritance was received in the form of a cashiers check made out to the beneficiary of a CD account at a bank.

Rather than simply opening a brokerage account somewhere and going about business as usual, is there a better way to set up an account so as to protect the money from lawsuits, etc? The money must still be accessible for use as capital but will always be returned to the account plus any earnings from it's use.

Any thoughts/advice would be much appreciated..

 

[tranquility]

While you can protect the money from *future* events, if you have a present problem there is nothing you can do. I suppose you can make it harder, but not impossible.

As to future, see an attorney for proper asset protection planning.

 

[nextwife]

I have a very large umbrella liability policy to offer additional protection in the event someone is injured at one of my properties and the property insurance is not sufficient.

 

[Dandy Don]

A consultation with a certified estate planner or financial planner is needed to achieve what you want.