Have you been thinking about opening a trust in order to protect your financial assets and your family? There are many benefits to creating a trust, whether it is a trust that will be dispersed after you have passed on, or if it’s a living trust that will provide for a family member with special needs or a minor. No matter the kind of trust services that you need in Old Saybrook, you’ll find that your local bank is probably the best resource.
Why Open a Trust?
If you’re considering working with trust services, you’re probably already aware of why some people open a trust. But if you’re still uncertain about the many benefits of opening a trust, here are some of the main reasons that individuals and families use trust services in Old Saybrook, CT.
– Tax breaks for your family: Trusts are taxed differently than other financial assets dispersed by your will. It may benefit the recipients of your financial legacy to receive it in the form of a trust.
– Control over how money is spent: Many individuals open trusts for their children that only mature when their children mature. In this way the child only receives the money when they are a bit more capable of managing it properly. Other trusts can be opened for specific reasons, such as a trust to be used in the care of a child or family member with special needs, so that you know your loved ones will always be cared for even if you’re gone.
– Avoid legal delays: Living trusts are not subject to the inconvenience of probate court. That means the money left will automatically be dispersed as you requested, regardless of other questions about your will.
Working with Local Professionals
Here in Old Saybrook, you’re more likely to work with a seasoned professional who understands the needs of Old Saybrook families. You can expect trust services that answer many of the most common questions that people have about trusts. You’ll learn about your options and what it will mean from a tax standpoint if you open certain kinds of trusts. In addition, there are legal implications that you will need to consider, and a local trust services professional will have the sensitivity to know you’ll need time to make these important decisions.
Here in Old Saybrook, CT, you have access to excellent trust services from financial institutions with a history you can trust. Your family and your financial legacy can be protected for the future.
Essex Savings Bank prides itself on providing excellent and private trust services to the families of Old Saybrook, CT. Your requests and hopes will be respected and the proper trusts will be opened on your behalf.
