Do you want to create a trust or have you been named as a trustee or beneficiary for a trust? There are many different kinds of trusts to fulfill different wishes and needs, including revocable trusts, irrevocable trusts, marital trusts, bypass trusts, testamentary trusts, charitable trusts, special needs trusts, scholarship trusts and more.
The benefits to placing assets in a trust include the following:
- Give you control of your wealth
- Protect your legacy
- Possibly minimize estate taxes and court costs
- Allow assets to pass outside of the public probate process
Trusts bring many benefits but also major responsibilities for the trustees, including investment management, distributions, accounting, taxes, delegation of functions and fees.
Moody Bank Wealth Management & Trust’s experienced team helps clients navigate the complexities of trusts to meet their goals.