| What Good Are Trusts? |
| I include three broad categories of trusts: revocable trusts, irrevocable trusts, and offshore trusts. There are many ways to categorize trusts, and there are many trusts within each of these three categories. This site will discuss almost two dozen trusts. Trusts have many purposes, and there are five important ones: 1.) minimize federal estate taxes, 2.) provide an immediate tax benefit in some cases, 3.) asset protection and preservation, 4.) avoid probate, and 5.) maintain confidentiality. A trust is a contract between the maker of the trust, or "grantor" or "settlor," and the trustee. It is created during the life of the grantor, who may or may not be the trustee. The trustee holds and invests assets on behalf of, or for the benefit of the named beneficiaries, who is often the grantor. A trust can be good for a limited time, it may be good only during the grantor's lifetime, or it may be valid long beyond the grantor's death. A trust is one of many estate planning tools, and it is often used in combination with other tools to accomplish far reaching goals. Learn how to use trusts in your estate planning arsenal and prosper! |
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| Estate Planning & Asset Protection |
| Learn on this site how to do good estate planning and good asset protection. Learn also how to coordinate your business planning with your estate planning. |
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