Whether or not a trust makes sense for you is largely dependent on what your personal estate planning goals and objectives are. Moreover, the type of trust will be dependent on what you are trying to achieve.
Taxes are rarely the only reason, and usually not the most important reason, why people have comprehensive estate plans. In fact, there are many non-tax reasons to utilize a trust within an estate plan.
Raymond James has recently published a white paper that details trust strategies designed to help you with five specific estate planning issues:
- Maintaining control
- Protecting assets
- Planning for a disability
- Philanthropic giving
- Avoiding probate
Trust planning can be complex, but it also can be very effective at meeting specific goals and helping provide peace of mind throughout your lifetime. To view the full white paper Click here .
We recommend working with a attorney who specializes in estate planning to make sure your current estate plan, and associated documents, are consistent with both your personal objectives and current law. We recommend that most people review their estate plan every 3 – 5 years and those who have more complex situations do so every 2 – 3 years or whenever there is a major change in your objectives.