Special Family Needs You can also use a trust under your will to ensure that the trust assets meet specific needs of your family. For example, you might provide money for your grandchildren's weddings or education, or for the care of a disabled or elderly relative. A trust can also be a means to withhold control of their inheritances from your beneficiaries until they reach a certain age that you want to set. The trustee will follow whatever plan you set out in your trust document. If you have a closely held business, your estate plan can help assure its future by carefully transferring ownership.
Professional help is essential to assure the tax efficiency of any business ownership transfer.
A Security Mutual representative, working in concert with your other professional advisors, can be instrumental in helping you plan for the best possible financial future for your beneficiaries. Please contact us if you have any questions or are in need of planning assistance.