It is not unusual for a client to fret the effects of passing on wealth to their children and grandchildren. A common consequence to recipients of easy money, or the awareness of guaranteed fortune, is a decrease in motivation for personal success. One may ask, “Isn’t there a way to provide for my children and grandchildren without them knowing any or all of the details?”

The simple answer is yes. One emerging approach other states are utilizing is the “silent trust,” sometimes also referred to as “secret trust.” Simply, a silent trust balances a settlor’s desire to withhold information from a beneficiary, due to a settlor’s belief that such knowledge will be a detriment to a beneficiary, with giving a beneficiary the tools necessary to protect such beneficiary’s interest in the trust.

Read the article below.