Trusts can be very flexible and can achieve a wide variety of wealth management and transfer objectives. The most common objectives are:
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Fund a charitable legacy
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Safeguard the financial interests of loved ones
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Maximize the amount that can be transferred to the beneficiaries
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Some trusts can reduce taxes
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Manage funds during incapacity of the grantor or beneficiary
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Provide continuity of management during your life time and for future generations
Trusts can be established and funded during one’s life time or at death. The role of the trustee is extremely important. The trustee is chosen by the grantor and is responsible for following the terms of the trust document. The trustee takes legal title of the trust property, pays taxes, manages assets and makes distributions in accordance with the trust document.
