A trust can provide a flexible and advantageous way for individuals to leave their assets to future generations while reaping certain present benefits. The type of trust that is best for you will depend on your specific circumstances and what you hope to achieve through the establishment of the trust. General benefits of a trust can include:
Management of Your Financial Affairs
Trusts can contain provisions that can help to ensure the prudent management of your finances during times when you cannot attend to your own affairs, due to disability or incapacitation.
Reduction of Tax Liabilities
You can take advantage of one or more of a variety of trust arrangements that can minimize costly estate, income, and gift taxes, helping to ensure that the maximum amount of your wealth reaches your heirs.
Executive Stock Diversification Strategies
Trusts can be used to help individuals with large concentrations of company stock diversify their assets, achieve liquidity, and reduce risk.
Trusts can be established to continue on after your death for the benefit of your spouse, children, or other named beneficiaries or charities. This helps to ease the burden on your loved ones and assure continuity of your wishes.