Trusts are an essential tool for estate planning. They offer flexibility in the arranging and disposition of a client’s property that would otherwise not be possible.

This flexibility inherent in the use of trusts is limited only by the desired goals of the estate owner.  Often these goals are inconsistent and may require various solutions having both advantages and disadvantages. For example, an estate plan developed predominantly for tax savings may not offer the optimal disposition of assets.

While tax considerations make up an essential component of good estate planning, it should not be the sole determinant for all estate planning decisions.

The use of trusts in estate planning is not limited to large estates that produce complex tax issues.

A trust will assure that the property will be used for the benefit of the beneficiary who the client wishes to favor without interference of the spouse of that beneficiary.

A trust may release the beneficiary from the encumbrance of property management.

A trust will protect an estate from the dissipation of the trust’s assets by limiting the interest of the beneficiaries and granting the trustee discretionary powers of distribution through spendthrift provisions.

A trust will permit you to determine the ultimate disposition of your assets through the creation of life estates with remainder interests.

A trust will enable you to preserve uniform administration and command of business interests or real estate.

A trust will enable your estate to avoid probate!.

For more on the use of living trusts and how they might be best used by you and your family, please contact the estate planning and asset protection experts of Wild Felice & Partners, PA at 954-944-2855 or via email at info@wfplaw.com. Let us protect what you value most.

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