You’ve worked hard to get where you are, carefully planning and saving throughout your lifetime, but now it may be time to consider what you want to leave behind. You deserve to protect the wealth you’ve worked so hard to accumulate and ensure that the legacy you leave behind not only fulfills your needs and wishes, but also fits your vision for the future of your family.
We all realize that we can’t take any of our wealth with us when we pass, but that doesn’t mean you suddenly become voiceless about what becomes of it after you’re gone. That’s where we come in. We’re here to help you check all the boxes, ensuring that you’re leaving behind a legacy you can be proud of, and it all starts with finding the correct trust solution.
Choosing a Trust
There are several varieties of trusts to choose from, each equipped to fulfill a different set of unique needs and visions for the future. That’s why it’s highly recommended that before deciding, you take a moment to review your estate and consider what you would like to happen after your passing.
Perhaps you have a child you’d like to help with educational expenses. You can set a condition within your trust so that there are designated assets and funds to be put toward their education until a certain age. Or perhaps you want to ensure a loved one gets the care they need or that a charitable foundation you believe in gets funding to continue their work.
Once you’ve established how you’d like your assets to be utilized after your passing, you can narrow down the type of trust that will work best for you. There are a variety of benefits connected to each type of trust. For example, living trusts allow you to circumvent the probate process, saving your loved ones’ valuable time and money, as their designated assets are directly distributed to them by your appointed trustee rather than through the court system. There are also trusts that work in conjunction with a will and trusts that only take effect after your passing, making it impossible to change the terms or conditions you’ve listed.
The trust you select will determine the legacy you leave behind and ensure your wishes and intentions are fulfilled. That’s why it’s essential to consider your options carefully, and we’re here to help you every step of the way. Our Wealth Consultants are happy to discuss the advantages of each trust and how they can align with your unique goals and needs, helping you find the best fit for your ideal legacy.
Selecting The Right Trustee
After you have selected the right trust for your needs, it’s time to select the right trustee to execute your wishes and manage your trust. Whoever you appoint in this role undoubtedly needs to be someone you trust, because you are leaving the management and distribution of your assets in their hands, but it also needs to be someone who can fulfill all the responsibilities of this role.
There are certain qualities that all effective trustees possess that help them fulfill the many responsibilities of their role, qualities such as:
- Willingness
- Honesty
- Trustworthiness
- Impartiality
- Loyalty
- Strong organizational skills
- Confident decision maker
- Interpersonal skills
These are just a few qualities to consider when choosing a trustee. It’s also helpful if your ideal candidate has a background in estate planning or has been a trustee in the past. Another important quality to consider is their ability to respect the privacy and confidentiality of your estate and appointed beneficiaries.
Your legacy is the lasting impression you’re leaving behind. It’s vital that you leave your legacy in the right hands.
Securing Your Ideal Legacy
After you have decided on the legacy you want to leave behind and who will administer your estate after you’re gone, the real work begins. Our dedicated team of Wealth Consultants will work with you to set up the trust that best meets your needs and will help structure the terms and conditions of your trust to align with your wishes. We will be right by your side every step of the way.
Ready to get started?
Schedule a consultation with one of our Wealth Consultants to plan your legacy your way.