In our assessment of a client’s trust and estate, we will review and/or recommend revocable (living) or irrevocable trusts, life insurance trusts, gifting techniques, and if applicable, coordinate legal counsel.

  • A trust is a legal contract that has specific language to address the wishes of the grantor for the benefit of a beneficiary.
  • The grantor is the person who puts the assets (money, securities, real estate, etc.) in the trust.
  • The beneficiary is the person who will receive the benefits of the trust depending upon the specific language that was used when drafting the trust.
  • The trustee is the person that oversees the administration of the trust and makes sure it is fulfilling the duties laid out in the trust document. You can have a corporate trustee (trust company or bank) or a non-corporate trustee, which could be anybody that the grantor chooses.
  • Anyone who wants to leave something of value (money, securities, real estate) to another person, but wants to make sure that it is used the way they intended it to be used. For example, this could be for the education of grandchildren.
  • People who want to leave money to a charity and receive tax benefits by doing so. Examples of this are charitable annuity trusts and charitable remainder trusts.
  • People looking to mitigate as much estate tax as possible.
  • Protecting things that you cherish greatly and want preserved.
  • Closely held businesses that can be heired down to younger generations.
  • We will discuss if a trust makes sense depending upon your goals and your overall estate plan.
  • We will recommend attorneys and accountants as needed to help if this is an avenue we deem good for you to explore.
  • We’ll help you explore whether to use a corporate trustee, and will work with you during the interview process.
  • Once the trusts are funded, we will model them into your estate plan and include them in the overall financial plan.
  • Many times we work with the beneficiaries (children, grandchildren, etc.) of the trust at this point, as they will be the ones inheriting the assets.