Common Trusts & Best Trusts

Some reasons for Trusts are:
  • Avoid probate, avoid court, avoid delays and legal fees,
  • Keep assets in friendly hands in case of incapacity,
  • Give assets to your children,
  • Encourage advanced education,
  • Provide for costs of education,
  • Reduce income and estate tax,
  • Provide security for loved ones,
  • Protect assets,
  • Provide medical care for loved ones,
  • Provide assisted living or long term convalescent care,
  • Provide bank account for a minor,
  • Keep a business through generations,
  • Provide management for minors, the handicapped, or seniors,
  • Provide lifetime income for a surviving spouse,
  • Select preferred chosen heirs, and limit others,
  • Defer, reduce, or eliminate estate tax,
  • Provide security and liquidity for heirs,
  • Maintain family assets for generations,
  • Set and maintain family goals for generations,
  • Provide retirement income,
  • Provide equity and security for surviving spouse,
  • Avoid capital gains tax,
  • Transfer assets to charity,
  • Provide income during trust term,
  • Provide use of a house during trust term,
  • Facilitate transfer of a family business,
  • Keep assets in your family for future generations,
  • Privately safeguard personal wealth,
  • Benefit charity, church, schools, medical causes,
  • Many, many other reasons...

  • Keep in mind that many trusts combine benefits with many of the above categories.

 Jay Lashlee, True Trust Book by Jay Lashlee