Protecting the Family Legacy

The Benefits of a Trust Beyond Taxes

Historically, reducing taxes and avoiding probate were the top reasons for establishing a trust. Increasingly, however, parents and grandparents have begun using trusts to enhance and protect their family's legacy. A trust provides an effective way to support a family’s financial goals of growing and preserving wealth. It also enables a family to determine where they want their assets to go and under what conditions. Unless a well-crafted plan is in place, that goal may or may not be achieved. Here are some of the benefits:
    1. Maintain investment management: A properly constructed trust can ensure that a client maintains control and full use of their assets during their lifetime, even if they become incapacitated. This allows wealth to continue to grow for the benefit of the client, while protecting the remaining assets, which are to be distributed to beneficiaries according to the client’s wishes.
    2. Control over asset distribution: Our clients spend their life creating and protecting their wealth. Using a trust, they can stipulate how and when accumulated assets should be distributed. Gifting assets to a trust, instead of outright to beneficiaries, can help a client direct control over how, when and under what terms assets will be distributed, in a family-friendly manner.
    3. Legacy protection: The personal reasons for establishing a trust are just as important as minimizing taxes. Financial irresponsibility, divorce and incapacity represent a few cases where a trust can ensure valuable estate protection. When constructed properly, a client can shield assets from the creditors of a beneficiary and also protect the trust against inexperienced beneficiaries.
    4. Privacy and efficiency: Unlike a will which becomes public record, trusts can protect a family’s financial information. Avoiding the delays, costs and loss of privacy associated with probate gives heirs timely access to the estate’s assets and peace of mind.
    5. Philanthropic planning: Trusts can be an effective way to fulfill philanthropic objectives so that a client’s charitable inclinations can be achieved. Assets are gifted into the trust and distributed to charities based upon the terms the client specifies.
A trust helps protect a client’s wealth and ensures continuity for loved ones and philanthropic causes once they are gone. Working together with our clients, we analyze the objectives and structure the assets to ensure the goals the client envisions for their legacy are carried out for generations. As a trusted partner, our commitment to safeguarding our client’s financial aspirations means that we will be there to guide their family every step of the way.

Bespoke Solutions

Protecting the Family Legacy

The Benefits of a Trust Beyond Taxes

Historically, reducing taxes and avoiding probate were the top reasons for establishing a trust. Increasingly, however, parents and grandparents have begun using trusts to enhance and protect their family’s legacy.

A trust provides an effective way to support a family’s financial goals of growing and preserving wealth. It also enables a family to determine where they want their assets to go and under what conditions. Unless a well-crafted plan is in place, that goal may or may not be achieved. Here are some of the benefits:

    1. Maintain investment management: A properly constructed trust can ensure that a client maintains control and full use of their assets during their lifetime, even if they become incapacitated. This allows wealth to continue to grow for the benefit of the client, while protecting the remaining assets, which are to be distributed to beneficiaries according to the client’s wishes.
    2. Control over asset distribution: Our clients spend their life creating and protecting their wealth. Using a trust, they can stipulate how and when accumulated assets should be distributed. Gifting assets to a trust, instead of outright to beneficiaries, can help a client direct control over how, when and under what terms assets will be distributed, in a family-friendly manner.
    3. Legacy protection: The personal reasons for establishing a trust are just as important as minimizing taxes. Financial irresponsibility, divorce and incapacity represent a few cases where a trust can ensure valuable estate protection. When constructed properly, a client can shield assets from the creditors of a beneficiary and also protect the trust against inexperienced beneficiaries.
    4. Privacy and efficiency: Unlike a will which becomes public record, trusts can protect a family’s financial information. Avoiding the delays, costs and loss of privacy associated with probate gives heirs timely access to the estate’s assets and peace of mind.
    5. Philanthropic planning: Trusts can be an effective way to fulfill philanthropic objectives so that a client’s charitable inclinations can be achieved. Assets are gifted into the trust and distributed to charities based upon the terms the client specifies.

A trust helps protect a client’s wealth and ensures continuity for loved ones and philanthropic causes once they are gone. Working together with our clients, we analyze the objectives and structure the assets to ensure the goals the client envisions for their legacy are carried out for generations. As a trusted partner, our commitment to safeguarding our client’s financial aspirations means that we will be there to guide their family every step of the way.