Trusts and Estate Planning

Is a Trust right for you?
 That depends on your personal situation. After talking with an attorney, you may decide that you have no need for a trust. Or, you may find that a simple-to-administer revocable living trust would meet your needs. Going further, you may discover trust options that you never knew existed that would be of invaluable benefit to you and your loved ones. You may end up establishing several trusts, each with a different purpose.

Trusts are created for a variety of reasons

Asset management - the grantor or beneficiaries of the trust may lack the expertise to manage a large portfolio of assets.

To benefit the grantor - the grantor can receive income from the trust and control its assets.

To benefit or protect others (minors, elderly, or incompetent persons) - trusts can be set up for the care of minor children or incompetent persons.

To divide property ownership among persons and provide flexibility in use of that property.

Federal estate or income tax purposes - trusts can contain provisions to reduce federal estate or income taxes.

For charitable purposes.

Minimize the Impact of Estate Taxes -Under current law, federal estate taxes can claim up to 55% of your assets at your death. The appropriate trust arrangement can help you minimize your estate tax liability.

Avoid Probate - If you only have a will at your death, your assets most likely will go through probate, which could result in a costly process.

Types of Trusts

Estate Planning Services
At Ohanesian / Lecours, we can show you how to maximize your wealth that will ultimately be passed to your beneficiaries by minimizing the taxes on your estate. We will also help you analyze the need for appropriate executors, trustees and guardians for your children.

Estate planning used to be of importance only to the very wealthy. But even middle-income earners who do a good job investing throughout their lifetimes can benefit from estate planning.

Before going any further, it is important to point out that property laws can vary widely from one state to another, and that estate planning is a very complex subject. This information is intended to inform rather than to advise, and should be used only as an introductory guide. As you begin the estate planning process, be sure to consult with an estate attorney.

Why do I need an estate plan?  Most of us spend a considerable amount of time and energy in our lives accumulating wealth. With this, there comes a time to preserve wealth both for enjoyment and for future generations. A solid, effective estate plan ensures that your hard-earned wealth will remain available for your care and will remain intact when it passes to your beneficiaries.

If I set up a Living Trust, can I be my own trustee?  YES. In fact, people who create most Living Trusts act as their own trustees. If you are married, you and your spouse can act as co-trustees. And you will have absolute and complete control over all of the assets in your trust.

What should I consider before I begin?   You should decide on (1) who will be the successor trustee in the event of death or incapacity; (2) if you have minor children, who should be the Guardian; (3) who will make health care decisions for you if you cannot make them yourself; and, (4) how your estate will be distributed at your death.

National Advisors Trust Company (NATC) s affiliated with Ohanesian / Lecours, Inc National Advisors Trust provides first-class trust and custodial services with professional attention delivered at favorable costs. With its strong and growing asset base, the company is one of the largest independent trust companies in the nation. Clients of National Advisors Trust are assured they will receive responsive service and attention to detail while maintaining their trusted relationship and wealth management strategy built with their financial advisor. NATC will ensure that client accounts are properly served with quality trust and custodial services. This includes reporting, record keeping, executing transactions, safeguarding assets and protecting the confidentiality of personal financial information.