Trust and Asset Titling

What is a Trust?

A trust is a legal arrangement that allows you to transfer assets to a trustee, who manages them for the benefit of one or more beneficiaries. Think of it as a secure container for your wealth—with rules you define.

Every Trust Has Three Key Roles:

Grantor: The person who creates and funds the trust
Trustee: The person or institution managing the trust assets
Beneficiary: The person(s) who benefit from the trust

Trusts are created through a legal document called a trust agreement, which outlines how assets are managed, distributed, and protected.

Why Consider a Trust?

Trusts offer flexibility, control, and protection for a wide range of financial and personal goals:

Avoid probate and maintain privacy

Reduce potential estate taxes

Shield assets from creditors

Provide for minor children or dependents

Plan for incapacity or long-term care

Support charitable causes

Shift income to beneficiaries in lower tax brackets

Types of Trusts

Choosing the right trust depends on your goals. Here are two common types:

Living (Revocable) Trust

Created during your lifetime
Allows you to retain control and make changes
Avoids probate and protects against incapacity
Does not shield assets from creditors or reduce estate taxes

Irrevocable Trust

Cannot be easily changed or revoked
Often used to reduce estate taxes and protect assets
May trigger gift tax at the time of funding
Avoids probate and removes assets from your taxable estate

Guidance from Trusted Experts

Considerations & Costs

While trusts offer many benefits, they also come with responsibilities:

Legal and administrative costs
Potential loss of control (especially with irrevocable trusts)
Ongoing maintenance and compliance
Tax implications for undistributed income

That’s why it’s essential to work with experienced professionals who can guide you through the process.

Asset Titling: The Overlooked Piece of the Puzzle

Proper asset titling ensures your estate plan works as intended. Even the best trust can fail if assets aren’t titled correctly. We help you:

Retitle assets to align with your trust
Avoid probate for jointly held or trust-owned property
Coordinate beneficiary designations on retirement accounts and insurance policies
Prevent unintended consequences from outdated titles

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