• RuthPGeorge

Good reasons for a trust

What can a trust do?

Here are just a few options:

1. Provide asset management (think: drug addiction, creditor issues, spendthrifts, divorce, gambling addiction, elder abuse concerns, inability to manage finances, susceptible to scammers, disabled beneficiary, business planning, etc.)

2. Act as a Will substitute (think: assets are distributed upon the grantor’s death according to the trust provisions)

3. Provide provisions to remove, replace and appoint trustees (think: grantor can lay the ground rules)

4. Assign roles and tasks to different trustees, advisors, fiduciaries and non-fiduciaries (think: different people can handle different functions of the trust)

5. Provide for a “pot trust” or for separate shares where there are multiple beneficiaries (think: different ages, risk tolerances, short term and long term needs, spending habits, etc.)

And, various other options . . .

10 views0 comments

Recent Posts

See All

https://youtu.be/bUJZD0PwG4w What happens when there's a Will contest? Who is involved? How long might it take? Who has the burden of proof? How might issues like these need to be reflected in your es

When the owners of a small business and the small business, itself, believe it is in their best interests to restrict each owner's right to dispose of their interests (think – financial value!) and ri