Putting together an estate plan can be intimidating. However, to navigate these concepts, a basic understanding can help guide you through it. A trust can strengthen your estate plan, and it is not only for the wealthy. People of all incomes can utilize trusts as part of their estate planning in Ponte Vedra.
The Benefits of Using a Trust
Probate avoidance: By using trusts, you can avoid the lengthy and costly probate portion of a court proceeding.
Tax reduction: A trust can help the person who wrote the will reduce the estate and gift taxes that are applied to their estate.
Disbursement control: One of the biggest benefits of a trust is that it allows you more control over asset disbursement than standard wills. Trusts also prevent the beneficiary from eroding their inheritance due to poor financial decisions. You can also schedule when the funds are dispersed to your beneficiaries, such as after graduation or when they reach a certain age.
If you need assistance with your estate planning in Ponte Vedra, look to the experts at Baron Bartlett, P.A. Our team will help you plan accordingly so you can have peace of mind knowing your estate is in order. Reach out to us today by calling (904) 285-9993 to schedule a consultation.