TRUSTS AND ESTATE PLANNING
At GeniusTax Advisory, we specialize in creating comprehensive estate plans that include trusts, wills, and other essential documents to protect your legacy.
Trusts are a fundamental component of estate planning
The Process:
Assess Your Assets: Compile a comprehensive list of your assets, including real estate, investments, retirement accounts, and personal property.
Determine Your Goals: Decide how you want your assets to be distributed, who will manage your estate, and any specific wishes you have for your legacy.
Consult with Professionals: Work with an estate planning attorney, financial advisor, and tax professional to create a plan that meets your needs.
Draft Essential Documents: This includes your will, trusts, power of attorney, and healthcare directives.
Review and Update Regularly: Life changes should prompt a review and update of your estate plan.
Benefits Include
01
Avoiding Probate
Trusts can help your estate avoid the lengthy and costly probate process, ensuring that your assets are distributed more quickly and privately.
02
Tax Efficiency
Certain types of trusts can reduce estate and gift taxes, preserving more of your wealth for your beneficiaries.
03
Protection from Creditors
Assets held in a trust can be protected from creditors, lawsuits, and other claims.
Get Started Today!
At Genius Tax Advisory, we are committed to helping you create a robust estate plan that reflects your wishes and provides peace of mind. Call us at 888-686-8855 today to start planning for your future.
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Frequently Asked Questions
To ensure your estate plan is legally binding, work with a qualified estate planning attorney who understands state and federal laws
Estate planning can help minimize estate taxes and other taxes on your assets.
There are several types of trusts, including revocable trusts, irrevocable trusts, testamentary trusts, special needs trusts, and charitable remainder trusts.