Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, March 28, 2018

Estate Planning, Is a Trust Beneficial?

image from https://s3.amazonaws.com/feather-client-files-aviary-prod-us-east-1/2018-03-27/e93dfda6-c698-4e02-a22c-d58120903e08.pngDetermining whether a trust is appropriate to include in your estate plan can be a difficult decision to make. Trusts are especially problematic when considering the best person to administer the trust. The chosen trustee has a number of responsibilities, including record maintenance, making prudent investment decisions, and filing tax returns. It is also important that the trustee hire a CPA to ensure the trust abides by IRS compliance rules. This can become very expensive. Even with these costs though, a trust can be a fantastic tool for those wanting to: 1) leave money to a spouse while also reserving the trust corpus to heirs, 2) leaving money to a irresponsible beneficiary, 3) maximize estate-tax exemptions, and/or 4) protect assets from creditors.

See Estate Planning, Is a Trust Beneficial?, TrustEstateProbate.com, March 8, 2016.


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