67. Do You Need a Trust? Here's What You Need to Know About Trusts & Estates!
Episode Highlights
0:00 - Trusts and Tax Benefits Explained
8:30 - Benefits and Types of Trusts
Episode Summary
Ever wondered how you could safeguard your financial legacy with a trust? Why do people set up a trust? How do they work?
That's what this episode is all about!
In this episode we explain the nuances of trusts, and there are a lot! We start by explaining exactly what a trust is, how it is used, and the various types of trusts.
We also explain the tax implications for the various types of trusts (of course)!
We discuss the many reasons why establishing a trust could be a wise move for you. Not only do trusts offer a robust shield for your assets from unforeseen legal challenges, but they are also pivotal in estate tax planning and planning the distribution of your wealth.
Whether you're looking to preserve a family business, ensure future care for a loved one with special needs, or simply lay a solid foundation for personal financial planning, this episode is your guide.