Trust & Estate Tax Planning

A lot of people are unsure if Estate Planning and Trusts are necessary or needed. However, there are many benefits to establishing a Trust that can help you save time and money. Since trusts usually avoid probate, your beneficiaries may gain access to these assets more quickly than they might to assets that are transferred using 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.

Trusts also give you better control how and when assets are transferred/distributed to beneficiaries, which can protect your estate from creditors or beneficiaries who may not be adept at money management.

Regardless of the reason for creating a trust or estate plan, proper tax planning is critical to the ultimate success of your plan. Tax planning is particularly important when, as now, the tax laws are changing, creating potentially unexpected tax liabilities.