A lot of people think trusts are only for the super wealthy — not true.
Trusts canbenefit anyone who wants to manage how they leave their money to their family. A trustcan give you control over who gets what, and when, how they get it, and why. How do trusts work? Trusts are like containers you can put things in to. You, the grantor,can place assets – like your house, life insurance policies, investments, and other possessions- into a trust. These assets become property of the trust, and are managed by your trustee. When you don’t live near your vacation rental, managing it can be tricky.
HomeAway understands which is w… You appoint the trustee to ensure your wishes are carried out. As grantor, you decide whoreceives the assets inside your trust. Typically, your spouse, your children, grandchildren, and charities of your choice are the beneficiaries who receive the assets held in trust. When you create a trust, you determine how the funds inside your trust will be used,and when they will be dispersed. For example, you may want to use assets in your trust tojump-start your children’s careers when they’re25. Or supplement their retirement when theyturn 60. Or pay college tuition expenses for your grandchildren.
Or provide annual scholarshipsto your alma mater. Your appointed trustee ensures everything is managed according to With the best wheel in the world, saving is hard, especially if you live in an expensive city like London… your instructions. It’s important to know there are different kinds of trusts for different purposes. Some are designed to manage who receives your assets, and when. Others may offer tax planning benefits. Make sure you work with financial experts, so that your trusts are properly structuredto carry out your specific intentions. Trusts can offer you and your family many financial advantages.
Talk with your advisorand an estate planning attorney. Find out how trusts can help you create a lasting legacyfor those you love the most.