Which Trust is Right for You?

Dear [Client’s Name],

 

A well structure trust can save you and your family time, stress, and money and can protect you all from outside interference and influence. Not all trusts are the same. Let us help you pick the best one.

Here’s a quick guide:

 

🔹 Revocable Living Trust: This flexible trust allows you to retain control over your assets during your lifetime. You can modify or revoke it at any time, making it a great tool for avoiding probate and simplifying the transfer of assets after death.

 

🔹 Irrevocable Trust: Once created, this trust generally cannot be altered or revoked. While this may seem restrictive, it offers significant benefits, such as asset protection from creditors, potential estate tax reductions, and Medicaid eligibility planning.

 

🔹 Living Trust: Created and funded during your lifetime, a living trust helps bypass probate, ensuring a faster and more private transfer of assets to your beneficiaries. It can be either revocable or irrevocable, depending on your goals.

 

🔹 Testamentary Trust: Unlike a living trust, this type of trust is created through your will and only takes effect after your passing. It is commonly used to provide for minor children, structure inheritances, or manage assets for beneficiaries who may not be ready to handle them independently.

 

🔹 Special Needs Trust: Designed to provide financial support for a loved one with disabilities, this trust ensures they continue receiving government benefits like Medicaid and Supplemental Security Income (SSI) without disqualifying them from essential assistance programs.

 

Each trust serves a unique purpose, and the right choice depends on your specific goals and circumstances. If you’d like to explore your options and create a customized plan, our team is here to help.

 

Contact me to today to schedule a consultation.