TRUST BASICS

Basic Estate Plans

Simple Family Trusts

With planning, more of your estate will end up going to your heirs rather than to legal costs and the government.

Build flexibility into your estate plan. Although many estates are small, there is always room for flexibility.

Be specific about the distribution of your estate. Questions about your estate will inevitably lead to fights between family members. Being clear in your will and trust means fewer questions and fewer fights.

Create power for the trustee and managers to make good decisions and benefit the beneficiaries. Managers need to have flexibility to manage assets when they change, or need to be managed.

Occasionally, reassess your assets and plan to take advantage of exemptions.

Be sure to transfer ownership title of each asset to a trust. Otherwise, the courts, delays, and legal expenses will result.

Make gifts now, rather than after you’re gone. There are huge exemptions for gifting while alive.

Asset protection is important whether you are married or single, for small or large estates.














 Jay Lashlee, True Trust Book by Jay Lashlee