What is a trust and do I need one?

 

A trust is a legal document used to manage assets.

There are many reasons that you might benefit from having a trust.

Common reasons include:

Estate Planning.  Assets held in a trust can bypass probate.  This can save time and money for the beneficiaries. It is also a private document, unlike probate, so the details are not made public.

Trusts can be used to manage assets on behalf of minors or incapacitated loved ones.

Taxes- Some trusts can help minimize estate or income taxes.

Charitable Giving- Trusts can be set up for charitable causes.

Control over distribution of assets- Trusts allow the grantor to specify when and how the assets are distributed.

Succession planning- Trusts can be used in succession planning for a family business.

Consider calling Sara-Bay for a more in-depth discussion about you and trusts.

 

The tax and estate planning information offered by the advisor is general in nature.  It is provided for informational purposes only and should not be construed as legal or tax advice.  Always consult an attorney or tax professional regarding your specific legal or tax situation. The information in this article is a compilation pulled from a variety of public sources.  

 

Disclaimer: “Sara-Bay Financial Corp. is registered as an investment advisor with the SEC. All information contained herein is for informational purposes only and does not constitute a solicitation for investment advisory serves or an offer to buy or sell securities. Registration does not imply a certain level of skill or training. If you are interested in our services, please see our Disclosure Brochure (Part II of the form ADV); which provides detailed information about Sara-Bay Financial Corp. and inherent risks that may be associated with our advisory services.

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