How to Specify to Adjust for Inflation in Wills or Trusts

Inflation is the general increase in prices and fall in the purchasing power of money. It can significantly impact the value of assets over time, and it's important to consider how inflation may affect the distribution of assets in a will or trust. Here are some steps you can take to specify to adjust for inflation in your will or trust:

Choose an Inflation-Indexed Asset

One way to protect against the effects of inflation is to choose assets that are indexed to inflation. For example, you could include an inflation-indexed bond or an index fund in your will or trust. These types of assets are designed to increase in value along with the rate of inflation, which can help to preserve the purchasing power of the assets over time.

Include a Clause

You can also include a clause in your will or trust that specifies that certain assets should be adjusted for inflation. This can be done using a formula or index, such as the Consumer Price Index (CPI).

Review and Update Your Documents Regularly

It's important to review and update your will or trust regularly to ensure that it reflects your current wishes and takes into account changes in your circumstances and the economy. This includes considering the impact of inflation on the distribution of your assets.

By taking these steps, you can ensure that the assets in your will or trust can maintain their purchasing power over time, even if inflation rises. It's important to work with a lawyer to ensure that your documents are properly drafted and that you have taken all necessary steps to protect against the effects of inflation.

Trust Attorney Free Consultation In Utah

If you need legal help, call this law firm and talk with our experienced attorneys about will or trust for a FREE consultation.

We help you with Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More

Parklin Law - Estate Planning

5772 W 8030 S, # N206

West Jordan UT 84081

(801) 618-0699

https://parkin-law.business.site/

40.605070, -112.027530

Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

Location: Clearfield, UT, USA

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