Unlocking The Benefits Of A Funded Trust In Your Estate Plan

When it comes to planning for your future and the security of your loved ones, one legal instrument that often proves to be invaluable is a funded trust. At Jordan & White, we understand the significance of this tool in estate planning. 

What is a Funded Trust?

In simple terms, a funded trust is a legal arrangement in which you transfer your assets, such as property, investments, and bank accounts, into a trust during your lifetime. This trust is managed by a trustee who follows your specific instructions on how to distribute these assets to your beneficiaries when you pass away.

Avoiding Probate

One of the primary benefits of a funded trust is that it helps your loved ones avoid the lengthy and often costly probate process. Probate is the legal process by which a court validates your will and oversees the distribution of your assets after your death. It can be a time-consuming and expensive ordeal, often lasting months or even years.

By placing your assets into a funded trust, you can bypass probate entirely. This means that your beneficiaries can receive their inheritances much faster, without the hassle of court proceedings and associated fees.

Maintaining Privacy

Another advantage of using a funded trust is the preservation of privacy. When your estate goes through probate, the details become a matter of public record. Anyone can access information about your assets, debts, and beneficiaries. This lack of privacy can lead to unwanted attention and potential disputes.

In contrast, a funded trust allows you to keep your financial matters confidential. The trust document remains private, ensuring that your family’s affairs stay out of the public eye.

Asset Management and Control

With a funded trust, you maintain control over your assets during your lifetime. You can name yourself as the trustee or appoint a trusted individual or institution to manage the trust on your behalf. This level of control allows you to make changes, additions, or withdrawals from the trust as needed.

Estate Tax Planning

A funded trust can also play a significant role in estate tax planning. Depending on the size of your estate, you may be subject to federal and state estate taxes. By strategically placing assets into a trust, you can minimize the tax impact on your estate and ensure that more of your hard-earned assets go to your intended beneficiaries.

Contact Jordan & White Today

A funded trust offers numerous advantages, including avoiding probate, maintaining privacy, retaining control over your assets, and optimizing estate tax planning. At Jordan & White, we have extensive experience in helping individuals and families create and manage funded trusts that align with their unique needs and goals.
If you’re interested in learning more about how a funded trust can benefit you and your loved ones, please don’t hesitate to contact our experienced team. We are here to provide guidance, answer your questions, and assist you in securing your family’s financial future.
Visit our website to learn more about our services and to schedule a consultation.