Trust Basics: Is a Trust Right for Your Estate Plan?

Views:
 
Category: Education
     
 

Presentation Description

A look at trusts in Portland Oregon and its importance to your estate plan.

Comments

Presentation Transcript

Trust Basics:

Trust Basics Is a Trust Right for Your Estate Plan?

PowerPoint Presentation:

Creating an Estate Plan

Over half of all Americans do not have an estate plan:

Over half of all Americans do not have an estate plan

PowerPoint Presentation:

Lack of knowledge is a common reason why people have yet to create a plan

PowerPoint Presentation:

Understanding more about estate planning may encourage you to start your estate plan

PowerPoint Presentation:

What Is a Trust?

A separate legal entity:

A separate legal entity

A beneficiary may be a person, an organization, a charity, or even a pet:

A beneficiary may be a person, an organization, a charity, or even a pet

PowerPoint Presentation:

Assets may be cash, stocks, property, or almost anything else of value

PowerPoint Presentation:

Why Include a Trust?

PowerPoint Presentation:

Probate avoidance 1

A properly constructed trust allows the assets held in the trust to avoid the probate process, making them immediately available to beneficiaries:

A properly constructed trust allows the assets held in the trust to avoid the probate process, making them immediately available to beneficiaries

PowerPoint Presentation:

Tax Advantages 2

A trust can help decrease your taxable estate at the time of your death, thereby lowering the amount of gift and estate taxes due from your estate:

A trust can help decrease your taxable estate at the time of your death, thereby lowering the amount of gift and estate taxes due from your estate

PowerPoint Presentation:

Continued Control 3

A trust allows the grantor to create trust terms that will, in effect, allow a certain amount of continued control over the use of the assets by the beneficiaries:

A trust allows the grantor to create trust terms that will, in effect, allow a certain amount of continued control over the use of the assets by the beneficiaries

PowerPoint Presentation:

Staggering Inheritance 4

A large inheritance left to a young, or financially naïve beneficiary, can be a huge mistake:

A large inheritance left to a young, or financially naïve beneficiary, can be a huge mistake

PowerPoint Presentation:

A trust allows you to stagger the gift over many years, decreasing the likelihood that the gift will be squandered

PowerPoint Presentation:

Guarding Assets for Minors 5

Gifts cannot be left to minors:

Gifts cannot be left to minors

PowerPoint Presentation:

Creating a trust is an excellent way to guard the gift and grow the funds until the intended beneficiary is old enough to legally benefit from the gift

PowerPoint Presentation:

Types of Trust

Assets transferred into an irrevocable trust cannot be removed once transferred and are legally no longer owned by the grantor:

Assets transferred into an irrevocable trust cannot be removed once transferred and are legally no longer owned by the grantor

PowerPoint Presentation:

Specialized Trusts

PowerPoint Presentation:

Trusts were once used primarily by wealthy families to pass the family wealth down to succeeding generations

PowerPoint Presentation:

Now , even the average estate planner can make use of one of the many specialized trusts

PowerPoint Presentation:

Asset Protection Trust 1

PowerPoint Presentation:

Asset Protection Trust 1

PowerPoint Presentation:

Special Needs Trust 2

PowerPoint Presentation:

Charitable Trust 4

PowerPoint Presentation:

Pet Trust 5

PowerPoint Presentation:

Pet Trust 5

PowerPoint Presentation:

Generation Skipping Trust 6

PowerPoint Presentation:

Generation Skipping Trust 6

PowerPoint Presentation:

Learn More About Trusts in Portland Oregon

PowerPoint Presentation:

Learn More About Trusts in Portland Oregon