A LITTLE MORE CLARITY
Good questions.
A thoughtful place to start.
Explore the basics, then bring the details of your situation to a qualified professional.
Where should I start?
Start with the people and priorities you want a plan to address. Read the basics, write down unfamiliar terms, and bring your questions to a qualified estate-planning attorney.
Who are the people involved in a trust?
The grantor creates the trust, the trustee administers it, and beneficiaries receive its benefits. A person may hold more than one role.
What does funding a trust mean?
Funding refers to placing assets into the trust. Signing a document and transferring the intended assets are separate steps to discuss with your advisor.
Is every trust the same?
No. A trust can be created during life or through a will. Revocability, management powers, distribution terms and tax treatment are separate questions.
Does a trust automatically eliminate taxes?
No. Tax treatment depends on the trust and applicable law. Ask a qualified tax professional to explain the treatment of your specific arrangement.
Can this site tell me which trust I need?
This site offers a starting point for learning. A recommendation requires a qualified professional to consider your goals, circumstances and state law.
Source: CFPB: Trust roles and funding ↗
YOUR NEXT CHAPTER
A better conversation starts
with better questions.
Bring a clear list of priorities to your next conversation with a qualified professional.