What’s a Trust
A legal arrangement where one party holds property for the benefit of another
Helps avoid probate, reduce estate taxes, and manage assets efficiently
Easy to establish a legally binding Trust in just minutes with Duckpins
A Trust is a legal entity that allows you to manage your assets during your lifetime and specify how they should be distributed after your death. It offers benefits like avoiding probate, maintaining privacy, and providing ongoing support for beneficiaries.
Establishing a Trust can help you reduce estate taxes, protect assets from creditors, and ensure that beneficiaries with special needs are cared for without jeopardizing their eligibility for government assistance.
Whether you’re planning for retirement, managing substantial assets, or seeking to provide for loved ones in a specific way, a Trust can offer the control and flexibility you need.
Understanding Trusts
Different Trusts serve different purposes. Selecting the right type helps you achieve your estate planning goals.
Created during your lifetime, it holds your assets for your benefit and names a successor trustee to manage them after your death or incapacitation.
Established through your Will, it becomes effective upon your death, allowing for controlled distribution of assets.
Allows you to retain control over the Trust assets and make changes or revoke the Trust during your lifetime.
Once established, it cannot be altered or revoked, providing benefits like asset protection and estate tax reduction.
Provides for a beneficiary with special needs without affecting their eligibility for government assistance.
Enables you to leave assets to a charitable organization while enjoying tax benefits.
Understanding Trust terminology is key to effective estate planning.
The person or institution responsible for managing the assets held in the Trust according to its terms.
Also known as the Settlor or Trustor, this is the person who creates the Trust and transfers assets into it.
Individuals or organizations designated to receive benefits from the Trust.
The principal amount or assets held in the Trust.
The legal obligation of the trustee to act in the best interests of the beneficiaries.
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