With a living trust, you may benefit from continuous investment supervision, substantial tax savings and standby protection, which allows unimpeded access to your trust assets by your trustee in the event you become critically ill or incapacitated.
What is a living trust and how does it work?
A living trust is an arrangement in which the trustee holds legal title to property (the trust property) to keep or use for the benefit of another (the beneficiary[ies]).
It’s called a “living trust” because, once created, it takes effect immediately while you are living. With this kind of flexibility, your trust can be the foundation for your family’s future financial security.
Who benefits most from living trusts?
Living trusts offer numerous benefits for many people who:
• Want to enjoy what they’ve earned or inherited, but dislike the ongoing commitments of managing capital.
• Travel frequently, making it difficult to manage their financial affairs.
• Seek the satisfaction of creating a financial program for the future benefit of their family or favorite charity.
• Have special needs or little experience managing finances.
• Desire impartial and trustworthy advice from an objective, knowledgeable source.
• Are concerned about their health or future ability to manage their financial affairs and seek sound advice from a professional
It’s easy to create a living trust.
Finally, a living trust can be custom tailored to reflect your needs, wishes and level of personal involvement in managing day- to-day affairs.
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