You invest for years to accumulate assets, and you’ll certainly need some of them to support your retirement.
But what about the rest?
What’s the best way to pass them on to your loved ones?
You might consider establishing a trust.
You’ll need to work with an estate-planning attorney to discuss the issues involved, but here are three key questions you’ll have to address:
First, who will serve as trustees?
You could pick a trusted loved one or a corporate fiduciary, such as a bank or trust company.
Next, when will distributions from the trust be made?
As the grantor, or creator, of the trust, you can direct it to pay out assets to beneficiaries when they reach certain ages.
Finally, for what purpose will the trust’s assets be used?
You can direct the trust to make distributions to pay for a beneficiary’s health, education, maintenance, and support, or you can provide incentives, such as having the trust pay beneficiaries when they reach milestones, such as earning a degree or buying a first home.
A trust can be a powerful estate-planning tool. Give it some thought.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.
