Demystifying Trusts: A Strategic Tool for Financial Control and Legacy Planning

When it comes to managing your assets, maintaining control and minimizing tax liabilities are paramount. This often leads people to explore the benefits of establishing a trust, seeking to protect their wealth from unnecessary taxation and ensure its distribution aligns with their wishes.

But we find there’s a lot of misinformation floating around about the benefits of a trust. That’s why it’s important to take a tailored approach to making this decision.

While trusts can offer protection against nursing home costs and estate taxes, they may not always be the optimal solution. Factors such as potential loss of Stepped-Up Cost Basis and the complexity of asset distribution must be carefully considered.

Beyond tax considerations, trusts serve as invaluable tools for determining asset distribution and potentially bypassing probate court and family disputes. However, each individual's circumstances warrant a thorough analysis to determine the most suitable estate planning strategy.

While we are not lawyers, we can start the process of talking through your options, then connect you with trusted estate planning attorneys to work with.

You’ve worked hard to build your wealth, we can help you manage it wisely. At Rabadeau Wealth Group, our family is here for yours.

The foregoing information has been obtained from sources considered to be reliable and is being provided for information purposes only, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation.

Any opinions are those of Lauren and Russ Rabadeau and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Past performance is not a guarantee of future results. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. Every investor's situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.