Plan Your Financial Future: A Comprehensive Guidebook to Growing Your Net Worth by Keith R. Fevurly

Author:Keith R. Fevurly [Fevurly, Keith R.]
Language: eng
Format: epub
Tags: Business & Economics, General, Personal Finance, Investments & Securities, Money Management
ISBN: 9781430260646
Publisher: Apress
Published: 2013-07-17T04:00:00+00:00

In any trust arrangement, the trustee must act solely and exclusively on behalf of the trust beneficiaries. As such, the trustee has the legal title to the trust assets, but the beneficiaries have what is known in the law as equitable title to the assets.

Trusts carry many advantages when they are used in transfer-tax planning and management, as well as in estate planning generally. Among these are the following:

The ability to benefit one or more specified beneficiaries

The ability to afford the expertise of a professional or other skilled individual in the management of the investment of trust assets

The ability to provide asset protection

The ability to avoid probate

The ability to achieve income and transfer tax savings

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