Trusts aren’t just for the rich and famous. Learn more about how a trust can be set up to protect your assets by watching this edition of Ascentra Making Cents.
It’s hard to put a price tag on the future.
A trust helps ensure that your loved ones will be taken care of and can save you and your family from heartache down the road.
A trust is a document that states the rules you want followed to distribute your assets to your beneficiaries and is managed by a trustee.
A trustee ensures that your financial affairs are protected and passed to your beneficiaries exactly as you intended.
A trust can benefit those with even modest assets.
They allow you to pass on your investments quickly and privately, and can save your beneficiaries from hefty estate taxes and probate fees.
Depending on your financial situation, there are many different types of trusts such as charitable, special needs, living and after death.
To some, they can be complicated and time-consuming to manage.
Seeking professional advice from a trust service company can make it easier, and help you make the right decision for yourself and your loved ones.