Trust Provisions Addressing Substance Use Require Flexibility

Parents fearing substance abuse by their beneficiaries can include instructions aimed at deterring addictive behavior and blocking the potential misuse of funds.

Parents have a serious talk with their young adult son.
(Image credit: Getty Images)

For many years, parents leaving substantial wealth in trust for their children and grandchildren have included provisions in the trust instrument that attempt to deter a beneficiary’s use of potentially addictive substances. For some, one or more family members have already abused such substances, with adverse-to-disastrous consequences. For others, this inclusion is purely prophylactic. It has become common practice for attorneys to include such a paragraph as boilerplate.

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Timothy Barrett, Trust Counsel
Senior Vice President, Argent Trust Company

Timothy Barrett is a Senior Vice President and Trust Counsel with Argent Trust Company. Timothy is a graduate of the Louis D. Brandeis School of Law, past Officer of the Metro Louisville Estate Planning Council and the Estate Planning Council of Southern Indiana, Member of the Louisville, Kentucky, and Indiana Bar Associations, and the University of Kentucky Estate Planning Institute Committee.