 
Who Benefits from a Trust?Individuals can be Beneficiaries
Most of the time the close family of the creator are the beneficiaries.
However, a relative, a friend, or a company could be a beneficiary, or share with related (or unrelated) beneficiaries. Others can be BeneficiariesYou can name a charity, your favorite school, or just share with them.You can currently benefit during your lifetime, then shift benefits to your children. Then, shift the benefits further, after they are gone. The ultimate benefit is that none of the beneficiaries could have the assets attacked for debts, divorces, lawsuits, or other problems of the beneficiaries! Multiple BeneficiariesSpouses will usually be named as be beneficiaries for the remainder of their life, then shift the assets to the children, then the grandchildren.Sometimes, after close family enjoy the benefits, the remainder benefits a cause like specialized education such as an artistic school grant program, a church, or a charity. These type of outside beneficiaries can share a percentage immediately or after immediate assignments. You can get as creative as you wish, as long as you are clear in your wishes and do not violate laws (such as racial requirements).  |