Upload your existing trust for review and see if it is doing what you need it to.
There are many benefits of including a Trust in your planning. Trust assets avoid probate, protect from creditors, allow your estate to easily be managed if you are unable, and many others.
Trusts must be properly funded. This means transferring ownership of assets to the Trust. Some assets must be held in your name, such as IRAs and 401K’s. Failing to properly fund a Trust is the most common reason why a Trust fails.
Trusts should be reviewed by your trustees and legal advisors for operational, taxation and funding concerns, as they pertain to the trust’s objectives and terms. Reviews should include:
A-B Trusts were created by a married couple to minimize estate taxes. These Trusts divide into two upon the death of the first spouse. These are NOT advantageous as the estate tax exemption is sufficient for most estates. However, many clients are unaware of this major distinction. Call today to see how we may help.