My name is Patrick Munro, financial planner. We’re talking about a family estate trust.
What is it? Sometimes, individuals will have put together enough assets. They have enoughreal estate and complexity to their lives, that they need to have an estate planningtrust. A family estate trust, as it’s known. What this does, is it allows the person whois at the head of the estate and normally these trusts absolutely have a name. It wouldbe the Smith Family Trust, the Jones Family Trust and so on and so forth depending on How to Decorate a Hallway the family’s name. What happens, is that the death of the primary trustee contingent andprimary beneficiaries will step forward to receive those assets and they’ll be protected from taxation.
They’ll also be protected from other levels of infringement upon by the government. To have such a family trust setup, it’s so important to work with the correct attorney. A member of the National Academy of Elder Planning Attorneys. It’s a national organization. It’s a very much a specialty of the law. And, of course working with a financial adviserwho works with an attorney from the National Academy of Elder Planning Attorneys is aneven better mix. Also, in that power team you want to make sure you have a CPA who willlook at the overall financial and hard numbers of the money that is involved in the family Hey this is another article by Pet Rock and today I’m working on my ’03 Dodge Durango.
Its a four by four… estate trust. It’s a very specialized area of estate planning.financial adviser.