Are you aware of these TWELVE advantages of Trusts?
1. Providing for the management of assets for beneficiaries who cannot or cannot yet or do not want asset management, such as in the case of minors or individuals who are incapacitated.
2. Providing for a person’s spouse, and making sure that your selected beneficiaries receive their inheritance as opposed to a new spouse and their family.
3. Protecting against future creditors of the trust’s beneficiaries, including a child’s or grandchild’s potential ex-spouse(s).
4. Protecting assets against creditors and judgments and providing for persons with disabilities or special needs.
5. Segregating assets acquired prior to marriage from assets acquired during the marriage.
6. Controlling the management and disposition of interests in businesses, or real estate, and other important assets
7. Providing for charity, at present or in the future
8. Providing the funding of buy-sell agreements
9. Receiving retirement plan proceeds and administering them appropriately
10. Caring for parents or others who need financial assistance
11. Permitting funds earned by a trust to be distributed to its beneficiaries, but with the Grantor (creator) of the trust paying all applicable income and capital gains taxes.
12. Permitting funds to be applied to the benefit of one or more beneficiaries, rather than to be owned by or paid to these beneficiaries
Dated: April 28, 2017