If you missed the 2019 edition, you might have overlooked what wealthy families and their advisors have been buzzing about. Every wealthy family strives to protect its legacy, but as time passes, this becomes more challenging. The relentless motion of time, coupled with the burden of taxes, can significantly diminish even the largest nest egg.
However, with the right strategies, the wealth you've accumulated during your lifetime can endure for generations, and even grow when managed effectively. That's precisely what the America's Best Trust Companies For Wealthy Families guide aims to help you achieve.
This comprehensive guide offers detailed information on trusts, the role of trust companies, transparency regarding charges and specialties, and insights into the technology and support provided by these companies. Armed with this knowledge, readers can confidently choose the best trust company for their needs. While death, disability, and divorce pose significant threats to wealthy families, a well-executed trust can address these concerns. America's Best Trust Companies For Wealthy Families ensures that your trust is in capable hands.
After all, you didn't reach your current stature by resting on your laurels. You've worked tirelessly, investing your time, effort, blood, and sweat to build what you have today. However, once control slips from your grasp and multiple heirs enter the picture, it takes only one misstep to jeopardize the assets that should have secured the future of your great grandchildren.
Surprisingly, 70% of formerly affluent families regress to the working class by the time the second generation passes away. What's even more alarming is that by the time the grandchildren are gone, fewer than one in ten dynasties survive in any recognizable form. A mere three generations or a century is typically the lifespan of a family fortune.
This is because many dynasty founders fail to establish a meaningful structure for wealth and authority transfer, often leaving their children in complete control of resources that took a lifetime to amass and cultivate.
So, how can you navigate such an uncertain future? The answer lies in a trust.
A trust empowers its creator to make choices that guide heirs even beyond the point where face-to-face advice is no longer possible. As a distinct legal entity, a trust's lifespan is governed solely by statute. Although the structure eventually dissolves when the assets are depleted or the line of succession ends, immediate freedom from mortality ensures that a properly structured trust will never be subject to inheritance tax or endure the arduous probate process. Instead, the assets seamlessly transfer to beneficiaries through a conventional financial transaction.
The remarkable fact is that 60% of families with a minimum of $250,000 to invest are already involved with at least one trust, either as beneficiaries, creators, or both. Trusts undeniably provide a competitive edge. However, without the right trust company, the likelihood of your wealth reaching your grandchildren, let alone your great-grandchildren, significantly diminishes.
This is where America's Best Trust Companies For Wealthy Families comes to the rescue. It equips you with all the crucial details you need to consider when selecting a trust company: perpetual existence, states with favorable tax regulations, asset protection options, and the privacy of you and your inheritors.
To compile this guide, professional wealth managers were polled to determine their preferences for a trust company. Factors such as reputation, dedicated trust officers, years of experience, jurisdiction, and adeptness in dealing with alternative assets were taken into account.
While trusts offer undeniable advantages, their effectiveness ultimately relies on the individuals who draft the documents and oversee their operations. America's Best Trust Companies For Wealthy Families takes the time to highlight the most common pitfalls and mistakes people make when creating a trust or selecting a trust company, ranging from document drafting to ensuring proper investment management.
If you're seeking insider secrets on how to preserve multi-generational wealth, look no further. America's Best Trust Companies For Wealthy Families provides professionals and individuals alike with a checklist of essential questions to ask when evaluating different trust companies, along with a glossary of terms to enhance your understanding.
Safeguard your legacy with America's Best Trust Companies For Wealthy Families. Download your copy today!
