Why Trusts are Awesome
We thought we’d share with you why Probates are so Awesome.
Aside from avoiding Probate because the Trust owns all of the assets.
- Avoids Probate: The Trust owns everything
- Trust assets can be removed at any time
- The whole Trust can be undone (revoked) at any time
- As much control over Trust property as an item in a suitcase
- Convenient control
- Quick and Easy Administration
- Simple But Effective Tax Planning: A/B Trust (for couples)
- Protects first $2 million from state taxes
- Protects first $7 million from federal taxes
- Allows surviving spouse great flexibility
- Disability Planning: Incapacity Trustee manages affairs
- Complete Control of Asset Distribution
- Who, what, when, how
- Asset protection