Trust

A trust documents in detail how a person wants their assets distributed at death. The main benefits of trusts are avoding the probabte process, as well as minimizing estate tax consequences.

There are various type of trusts that can be created depending on a person a family’s circumstances. For most individuals a simple probate avoidance trusts and revocable living trusts would be sufficient to protect your assets at death. For individuals with assets more than $5 million or married couples with more than $10 million in assets, more acute and creative planning can be put in place in order to minimizing the estate tax impact of any distributions from trusts.

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