One mistake in estate planning is not using trusts to the maximum extent the law permits, especially with being one of the most important developments of English common law. Some would say that trusts are the most powerful tool in estate and financial planning. However, trusts are not used at the frequency they should be. A few trust benefits include protection from claims and support for disabled beneficiaries. Ultimately, the structure and administration of a trust are important factors to make sure that the benefits and goals of the settlor will progress for however long they wish. The Article discusses many of the reasons that trusts should be considered more often in estate plans.
See Jonathan Blattmachr, Even Without Estate Tax the Right Answer Is Still the Same: Put It All in Trust, Trust Advisor, November 17, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
