creating trusts


Maximizing financial advantages

Suzy will guide you through the benefits of establishing various trusts as integral parts of your comprehensive estate plan. A trust is traditionally used for minimizing estate taxes and will offer other benefits depending upon your situation.

A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to  your beneficiaries. Since trusts usually avoid probate, your beneficiaries may gain access more quickly than to those transferred by a will. Additionally, if it is an irrevocable trust, it may not be considered part of the taxable estate, so fewer taxes may be due upon your death.


Advantages of a trust include:

Control your wealth. You can specify the terms of a trust, controlling when and to whom distributions are made. You may decide to set up a revocable trust so that the trust assets remain accessible to you during your lifetime.  The remaining assets will passed to those designated after your death, even in complex situations such as children from multiple marriages.

Protect your legacy. A properly constructed trust can help protect your estate from your heirs’ creditors or from beneficiaries who may not be adept at money management.

Privacy and probate savings. Probate is a matter of public record; a trust may allow assets to pass outside of probate and remain private, in addition to possibly reducing the amount lost to court fees and taxes in the process.