BENEFITS AND ADVANTAGES OF PERSONAL TRUSTS

FOR YOUTYPE OF ACCOUNTTAX ADVANTAGES*BENEFIT
ptsforyoupic Investment Management Account None Easy to set up, gain perspective of professionals.
Revocable
Living Trust
None Provides professional asset management, continuous financial protection upon incapacity. Avoids probate in many states.
FOR YOUR SPOUSETYPE OF ACCOUNTTAX ADVANTAGES*BENEFIT
For Your Spouse Marital
Deduction Trust
Full Estate
Tax Deferral
in Most Cases
Spouse receives lifetime trust income, may direct ultimate distribution of trust assets.
Qualified
Domestic Trust
Full Estate
Tax Deferral
Marital deduction is secured for noncitizen spouse.
Qualified
Terminable
Interest
Property Trust
(QTIP Trust)
Full Estate
Tax Deferral
Especially appropriate for "Blended Families." Children's interest normally can't be changed by spouse.
FOR YOUR
BENEFICIARIES
TYPE OF ACCOUNTTAX ADVANTAGES*BENEFIT
For Your Beneficiaries Bypass
Trust
No Federal Estate Tax, Possibly
for Decades
Surviving spouse may also be a beneficiary.
Spendthrift
Trust
None Trust assets are protected from the beneficiary's creditors.
Special Needs
Trust
None May provide for enhanced quality of life while permitting continued government benefits.
Grantor Retained Income Trust (Annually or
Unitrust Interest)
Income and
Estate Tax
Savings
Grantor's retained income interest leverages the amount exempt from federal gift taxes.
Charitable Remainder Trust Income, Gift
and Estate
Tax Deductions
Tax advantages make philantrhopic goals easier to achieve.
Testamentary
Trusts
Estate Tax
Savings
Protects trust assets for the beneficiary.
Guardianship
Trusts
None Provides professional asset management for a minor or incompetent individual.


*Consult a tax advisor for more information

 
 

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