Flexibility in Trust Planning


The use of trusts for long-term planning can provide many benefits; however, setting up a trust at one point in time to cover all potential future circumstances without flexibility is not advisable. From the start, it is wise to incorporate trust provisions to accommodate changing family needs, new tax and legislative implications, and varying economic conditions. This planning update addresses the use of grantor trusts to transfer wealth to family members and how to incorporate flexibility so that long-term planning is enhanced, not restricted, through the use of the trust.

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