Trust Administration
Trust are wonderful estate planning techniques because, depending on the type of trust used, trust can reduce estate taxes, protect assets from the creditors of the beneficiaries, ensure proper investment and management of assets, and reduce income taxes under certain circumstance
Dynasty Trust: Assets are preserved and protected for multiple generations
Life Insurance Trust: Life insurance proceeds are removed from the settlor's taxable estate and are held and invested for the benefit and safety of the beneficiaries
Grantor Retained Annuity Trust (“GRAT”): A technique to pass assets to beneficiaries at a reduced gift or estate tax cost
Living Trust: Holds assets for the lifetime benefit of the settler, but allow a backup trustee to administer the assets upon the incapacity of the settler, avoiding guardianship and the problems that exist with a power of attorney or jointly titling assets.