How does a living trust help you and the Library Foundation?
Living trusts are versatile asset-management tools offering long-range value in a variety of financial and family circumstances. They provide for your own well-being in the event of incapacity, and then resolve your final affairs at your death.
A trust agreement, prepared according to your direction, provides your trustee with instructions about how to manage the trust’s assets and how you wish income and the assets themselves to be distributed. The agreement can be changed by you at any time, and the trust can be cancelled if you find it necessary. A living trust is most appropriate:
- When you are looking for professional portfolio management. A corporate trustee is a great choice for complete financial services.
- When you need a contingency plan. Your successor trustee will use your resources to take care of you.
- When you want privacy of your financial affairs and estate planning.
- When you want to avoid public probate actions.
- When you want to make sure your gifting plans are implemented while living and after death. A living trust locks in your charitable plans. If your trust says the Library Foundation will receive a gift, your trustee must make that happen.
Call us to talk about a living trust for your family’s financial security for today and your charitable intentions in the future.
(January 2022)
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