REVOCABLE TRUSTS AN ASSET PROTECTION TOOL:
A revocable trust is a legal tool that can be used to protect one's property and family members in many different ways.
Revocable trusts can do the following:
- Protect against many of the legal and financial problems of disability and old age (avoid conservatorship and guardianship proceedings).
- Protect people from the financial consequences of bad marriages, bad business decisions, or other legal problems such as law suits and divorce proceedings.
- Provide for children and grandchildren until they are mature enough to handle their own finances;
- Keep your family business private and keep the court out of your business and family affairs.
- Avoid estate and inheritance taxes, avoid probate and save your estate money.
- Reduce income taxes, and eliminate capital gains taxes.
- Provide for professional investment and asset management.
- Prevent family assets like farms or businesses from being unnecessarily divided or sold.
- Make sure that benefits go to the right people, at the right times, for the right purposes, and in the right amounts.
Properly structured, a trust can be one of the most beneficial methods of holding and transferring property. There are almost unlimited uses for trusts in today's complex society.
We therefore believe that anyone who cares enough to plan for the future must consider the many ways that trusts can benefit the people and institutions that are important to him or her. For more information about how trusts can benefit you, please call for your complimentary and confidential consultation.