A trust could be a useful tool to incorporate in your estate strategy. That's because trusts can provide potential benefits, like control, incapacity protection, potential probate avoidance and tax planning opportunities. But there are numerous types of trusts— and reasons why each type could make sense for you—depending on your financial and personal situation.
That's why we believe that answering this question requires a team approach. Your financial advisor can help you start this process by working to identify and prioritize your goals and then coordinating your team of tax and legal professionals.
Assets must be titled in the name of the trustee to be considered part of it.
Creating a trust involves upfront costs, but it can help avoid expenses and hassles later. For example, because the trust holds assets rather than you as an individual, you may be able to avoid probate.
Your lawyer can help you determine if the benefits outweigh the costs of a trust and if this strategy makes sense for your situation. Talk with your Edward Jones Advisor today to get started planning for your future.
Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regarding your situation.