How to Arrange an Estate Plan Using a Trust

A trust is traditionally used for minimizing estate taxes and can offer other benefits as part of a well-crafted estate plan.

On practical terms, a trust can be used as a effective tool to avoid governmental probate for your beneficiaries to take over your assets immediately in the event of your death. In addition, the Irrevocable  Life Insurance Trust (ILLIT) can be used as a owner of cash value and death benefits on the policy .

Also can trust serve as a receiver of income generated from the assets owned by the trust or as a borrower of loan for purposes such as acquisition of a life insurance policy for example.

Trust is usually used as a way to give away assets to somebody through estate planning. If you still want to keep the assets for now when you are very young, you'd  better buying a life insurance instead. But if you are at certain age,  remember this: when you are aware it's time to set up a trust, it's usually too late. So it's better to do it earlier than later.

Generally speaking, a good trust needs to be structured with experienced CPA, lawyer, life insurance broker. In case you have any questions on the role a trust can play on smoother transition of assets or benefits, please contact with us at : 1 626 986 9287 or email: globalsuccession@gmail.com