|For example, you’ll need to determine who gets what - and when. You’ll want to avoid the time consuming and expensive process of probate. You may want to leave behind something to a charitable institution. And you might decide to designate someone to act on your behalf in case you become incapacitated.
Clearly, estate planning covers many areas. To get a better understanding of what’s involved, consult a legal adviser who is experienced in these matters. By acting now, you’ll be protecting the interests of your loved ones in the future.
Trusts Can Help You Achieve Estate Planning Goals
If you want to pass on assets to your family in the most advantageous way possible, you’ll need to do some estate planning. And one estate-planning tool that may be particularly useful is a trust.
A properly established living trust can ensure that assets will pass directly to your beneficiaries - without going through the very time consuming and costly process of probate.
A living trust also can safeguard your children’s interests. When you set up a living trust, you can spell out exactly when you want your children to receive the assets you left them.
If you want to include a charitable organization in your estate plans, you might consider a charitable remainder trust. You’ll benefit a charity, while giving yourself tax breaks and a potential income stream for life.
Trusts can benefit you in many ways. To learn more, see your legal advisor.
Contact Wendell at Edward Jones www.edwardjones.com.