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Trusts

Trusts are contracts which direct a trustee to handle or manage asset(s) as directed in the contract.  We can make trusts as simple or as complex as needed to accomplish your goals.  Trusts can be grouped into three main categories: revocable, irrevocable, and testamentary. 

        REVOCABLE TRUST

  1. A revocable trust can provide for uninterrupted management of your assets and continuation of your i income during your lifetime should you become incapacitated.

  2. This trust can be used for avoiding the costs, delays, and publicity associated with probate.  Since it is revocable, you have the power to alter, amend, or terminate the trust at any time.

  3. A revocable trust will not, however, reduce or avoid taxes. 

  4. Avoids probate for assets it includes.  In order to avoid the probate process, this trust needs to be funded during your lifetime.

  5. Not a matter of record in the courthouse.

  6. Can survive after your death.

  7. Conveys property to a trustee (can be you) to be managed for your own benefit or the benefit of one or more people (spouse, children, friends, and family).

                                                                      

        IRREVOCABLE TRUST

  1. This trust may be used to reduce the value of your taxable estate because it is a complete transfer of control the asset.

  2. Once it is funded, it cannot be changed.  A common use is to transfer your life insurance policy into an irrevocable trust.

       

TESTAMENTARY TRUST

Created in your Last Will and Testament, a testamentary trust takes effect and becomes funded at the time of your death.

SPECIALTY TRUSTS

If you want an asset held in trust we can build a trust to do it.  From trusts like a Rockefeller Dynasty Trust, Romney Blind Trust, or a Spendthrift Trust we thrive on complexity and deliver innovative solutions.

DYNASTY TRUST

Is an irrevocable, long-term trust created to pass wealth from generation to generation without incurring transfer taxes, such as the gift tax, estate tax, or generation-skipping transfer tax.   

SPENDTHRIFT TRUSTS

"Every family has one." A Spendthrift Trust protects a family member who has difficulty managing their affairs and is designed to ensure there will be something left to take care of them when they really need it.

Free, no obligation consultation. By directing assets into a trust, you can control how they are managed and directed. There are different types of trusts that can be se...
Free Consultation to discuss Trusts
1 hr
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