HOW A TRUST BENEFITS YOU AND YOUR FAMILY Have you heard about a trust and the benefits of creating one for your family? A trust is a legal arrangement where assets are held for the benefit of another. Think of it as a secure location for things like cash, insurance policies, stocks, bonds, real estate and artwork. WHO’S WHO The individual who creates the trust is the grantor (a.k.a. the settlor or trustor). This grantor names beneficiaries such as loved ones and charitable causes. The trustee manages assets and distributes funds according to the terms of the trust. Based on the trust’s purpose, you can name yourself, another person or an institution as the trustee. WHY CREATE A TRUST? A trust is useful in estate planning, as it determines how property is distributed after someone passes or is incapacitated. There are living (revocable), irrevocable and testamentary trusts. Here are some of the reasons you might establish a trust: 1. Reduce potential estate taxes 2. Safeguard assets from potential creditors 3. Avoid the expense and delay of probating your will 4. Preserve assets for young children until they are grown 5. Set up a fund for your own support in the event of incapacity 6. Shift part of your income taxes to beneficiaries in lower tax brackets 7. Establish benefits for your favorite charity Arrange your complimentary consultation with an LPL Financial Advisor at your nearest TruWest branch by reaching out to our experienced team: Email contactfp@truwest.org or Call 602.629.2072 in Arizona and 512.421.3404 in Texas Securities offered through LPL Financial, Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. TruWest Credit Union is not a registered broker/dealer nor affiliated with LPL. NOT NCUA INSURED NO CREDIT UNION GUARANTEE MAY LOSE VALUE
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