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Smart, Surprising Ways to Take Control of a Trust
Many successful families who are business owners use trusts to minimize taxes, transfer wealth, and protect assets from creditors and others (i.e. future spouse of your child).
1. Too much control can be relinquished to a third party trustee.
2. Too much reliance on a third party trustee to think and act solely in your best interest at all times is rarely the smart move.
Trust law has evolved significantly. Now, there are options available that allow for greater family control – options that did not exist or were not commonly used back when many current trusts were established.
So, think and act more like an asset owner and less like a trust grantor or trust beneficiary. Start by reading this brief article about three smart, surprising ways to take control of your trust.
For more information on how Fairport inspires business owners and their families, contact:
Andrew R. Connors, CFP®, CEPA
Business Owner Leader
Partner, Fairport LLC
Fairport is registered with HighTower Securities, LLC, member FINRA and SIPC, and with HighTower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through HighTower Securities, LLC; advisory services are offered through HighTower Advisors, LLC.
This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.
All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.
This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of HighTower Advisors, LLC, or any of its affiliates.