Is a Trust Right for Your Estate?

IS A TRUST RIGHT FOR YOUR ESTATE? TRUSTS 101 TRUSTS set up rules for distribution of your estate May have a 3RD-PARTY to manage assets for you and your beneficiaries where appropriate 2 STYLES: REVOCABLE and IRREVOCABLE Revocable can be Irrevocable cannot changed by you during your lifetime be changed once it's executed SEVERAL DIFFERENT TYPES, including. MARITAL BYPASS Provides benefits Cre shelter trust, bypasses surviving spouse's estate to surviving spouse CHARITABLE LEAD LIFE INSURANCE Gives benefits to Provides liquidity so charity with remainder beneficiaries don't have to sell off other assets to survivors RETIREMENT Can provide protection for the beneficiaries TAP INTO THE BENEFITS OF TRUSTS Maintain control Reduce or eliminate Avoid probate for of your assets estate taxes items in trust Allows beneficiaries to access estate faster Keeps details of estate private DO YOU NEED A TRUST? Size of estate Consult with a Nearly everyone can benefit from a trust is not an issue trust attorney to... Find out if a trust is right for you Determine which type of trust meets your needs PROVIDED BY: BAKERINK, MCCUSKER & BELDEN www.TRACYATTORNEYS.COM SOURCES: https://www.fidelity.com/estate-planning-inheritance/estate-planning/trusts http://www.dummies.com/how-to/content/what-is-a-trust.html http://money.cnn.com/magazines/moneymag/money101/lesson21/index6.htm http://money.cnn.com/retirement/guide/estateplanning_trusts.moneymag/index4.htm http://www.miamiherald.com/2013/08/23/3582130/age-old-question-do-i-need-a-trust.html http://www.cnbc.com/id/101069222