There are a variety of advantages to creating a trust. Some advantages include:
ensures long term benefits of the assets of the trust
manages a spouse or children with pending problems
helps a spouse or children reach life goals
restricts how the money is spent
Tax shelter, Estate Taxes
“A credit shelter trust allows a married investor to shelter assets from estate tax. Here’s how it works: Upon the death of the investor, the assets specified in the trust agreement (up to a specified maximum dollar value) are transferred, estate-tax free, to the beneficiaries named in the trust (normally the couple’s children). A key benefit to this type of trust is that the spouse maintains rights to the trust’s assets and the income they generate during the remainder of his or her lifetime,” according to investopedia.com.
Seek Legal Guidance
It takes a lot of thought and effort to come up with a trust that insures the best for your family and/or loved ones. The careful and dedicated staff at Broussard Dove can assist you with this intricate process.
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