Trust Overview
The Spendthrift Trust was originally designed to protect the family fortune from the reckless spending of an irresponsible Beneficiary. Today, it is used as an effective estate/financial planning tools that offers protection from lawsuits, creditors, divorce, and/or probate. What makes it unique are the provisions that work together to ensure the utmost levels of privacy, protection, and reduction of taxes: Spendthrift, Non-Grantor, Irrevocable, Complex, and Discretionary. Using this structure, Trustees can ensure proper guidelines and to prevent penetration of the corpus, ensure assets are not handled irresponsibly, and make complex financial decisions for the Trust, including the distribution of funds to or on behalf of beneficiaries but not directly to their creditors. The Spendthrift Trust is a legal, financial strategy with provisions that protect the wealth of families for generations to come.
BENEFITS
Provides a SHIELD against personal liability through protection from lawsuits, creditors, and against loss of real property to eminent domain and ensures SECRACY - as the Trust is a private entity with a confidential record-keeping system. Enhances SAVINGS by bypassing the probate process and eliminating associated fees and inheritance taxes, eliminating capital gains taxation, and deferring tax on extraordinary/stock dividends.