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Any comprehensive review of an older person’s financial planning is likely to touch upon the value of a revocable living trust for investment management. The trust approach provides a great tool for delegating investment responsibility into experienced hands without giving up control of assets. Anyone with a substantial portfolio should consider a trust and the benefits of professional trusteeship, such as we provide. Other good candidates for a living trust include those who:
- Own assets in more than one state
- Are concerned about financial management upon illness or incapacity
- Value family financial privacy
- Want to ensure immediate family access to assets after the owner’s death.
For a real-life example of family financial privacy, one need look no farther than the will and living trust of actor Gene Hackman, who died earlier this year. There was a flurry of speculation when the details of his will included no mention of his children, but the talk died down quickly when it was learned that there was much more to Hackman’s estate plan than first reported—he had living trusts in place as well.
Think you might be a candidate for a living trust? Please come in and talk it over with us to learn more.
(April 2025)
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