For many individuals retirement plans are their largest asset. Proper planning will enable you to maximize the deferral of taxes on amounts in the plan allowing such amounts to continue to grow tax-free. You and your attorney will consider all of these tax issues and their impact. The documents prepared by your attorney will be designed to address these issues, while making certain that your distribution wishes are accomplished. Estate Planning and Trusts Trusts come in many shapes and forms.
Trusts enable individuals to accomplish many different goals.
Trusts are frequently used for charitable purposes, or to protect the interests of minor or disabled heirs, or to take advantage of certain tax law provisions, as well as for other purposes to meet your distribution goals. If after discussion with your attorney, it appears that a trust can or should be a part of your estate plan, your attorney will explain its requirements and operation. Revocable living trusts have become popular and effective estate planning vehicles. You may have read articles or attended seminars discussing these trusts. These trusts may enable you to avoid probate or the need for court-appointed guardians.