Why Trusts are Awesome

Brooks Estate Law, Probate, Estate Planning, Trust Administration

We thought we’d share with you why Probates are so Awesome.

Aside from avoiding Probate because the Trust owns all of the assets.

  1. 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
  2. Quick and Easy Administration

  3. 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
  4. Disability Planning: Incapacity Trustee manages affairs

  5. Complete Control of Asset Distribution
    • Who, what, when, how
    • Asset protection