Ask an attorney what the advantages of a trust are and he or she will inevitably include in that list “privacy”. But how can a trust provide privacy? There are two major ways that a trust provides additional privacy.
An Irrevocable Life Insurance Trust (ILIT) is a powerful tool that should be considered in wealth management and estate planning for those who may be approaching the estate tax threshold. An ILIT can provide you and your loved ones with significant benefits. The attorneys at Evans & Davis can assist you with determining if an ILIT is appropriate for you and your family.
In many cases, a trust may be a better option than a will. Obtaining a thorough understanding of the differences between a will and a trust is a good starting point.
When it comes to estate planning, ensuring that your wishes are honored and your assets are managed appropriately can be a complex and daunting task. One way to add a layer of protection and oversight to your trust is by appointing a trust advisor.
A Successor Trustee is the individual or entity responsible for managing a trust when the original trustee is unable or unwilling to continue doing so themselves. (Note: the original trustee is typically the person who created the trust, known as the Grantor or Settlor.)
