How Can A Trust Protect My Legacy?

A trust is a fiduciary arrangement that specifies how your assets will be distributed at the time of your passing, usually without the involvement of a probate court. Unlike a will, a trust isn’t subject to public scrutiny and can be arranged to accomplish a variety of different goals.

The true appeal of a trust is the ability to control how your assets are managed both during and after your lifetime. This feature tends to be particularly appealing for people with special circumstances, such as those who are caring for a child or family member with special needs, or managing succession planning for a closely held business. A trust even allows you to specify certain conditions that must be met in order for a transfer of assets to be completed.

What is the difference between a will and a trust?

A will names your beneficiaries and how assets will be distributed, but a trust can provide you with more control over these components. Trusts can also allow for more complex estate planning structures, particularly for those with large or blended families.

Why is it important to have a trust?

• Avoid probate court
• Reduce estate taxes
• Maintain control over your assets
• Plan for worst case scenarios
• Provide for loved ones with special needs

What are the steps to take to create a trust?

• Meet with an estate planning attorney
• Draft a legal document
• Name an executor within your family or a corporate fiduciary to be in charge of managing the trust

How can The Bank of San Antonio help you?

• Serve as Trustee, Co-Trustee, and Executor
• Help to coordinate the management of the trust between legal, financial, and family
• Provide consistency and reliability among grantors and beneficiaries
• Provide peace of mind surrounding loved ones with special needs
• Provide continuity, dependability and reliability in the execution of the care of your family

If you are interested in establishing a trust, or if you have been asking yourself questions like, "How will my family be taken care of when I'm gone?" or “When is the right time to create a trust?”, we can answer your questions and can help you in the process of creating your family legacy.