Anyone who has specific estate planning goals including charitable giving, tax reduction or ensuring your assets are protected for future generations will benefit from forming and funding a trust.  Establishing a trust can be beneficial for anyone who would like to ensure that their assets are distributed in a specific way to someone or an organization in case of an unexpected life event or transition.  

The word fiduciary is thrown around a lot in the financial industry, but what does it really mean? Simply put, a fiduciary always puts clients first above their own interests.

Click here for a full explanation of what a fiduciary is.

At Adelphi Trust, we have deep experience and expertise in working with families. We understand you have wishes beyond your own future, for your loved ones and future generations of beneficiaries. We look beyond a single individual or generation and work to ensure your family goals are met, to help younger family members accrue and protect wealth and understand the significance of their generational wealth.

At Adelphi Trust, we’re able to work with estate attorneys to craft the best plan to meet a client’s goals, ensuring their unique family circumstances and  objectives for the future are reflected in their estate plans.

A trust may reduce the time it takes for beneficiaries to receive distributions or minimize taxes, ensures more privacy upon death, and improves the process of transferring assets. It also allows a grantor to provide specific instructions on when and how money should be distributed over a beneficiary’s lifetime. With a properly drafted trust, your assets are protected from your beneficiaries’ creditors.

The term “corporate trustee” can sound a bit clinical, and it’s understandable why many clients’ first instinct is to name someone they know personally. But acting as a trustee is a complex and demanding position, and not every individual has the experience or time to successfully fulfill the role. A corporate trustee also provides continuity when an individual may not always be able to serve. 

Click here for a full explanation of why a corporate trustee makes sense.

After spending decades of your life working and accumulating assets, an estate plan can ensure that wealth is preserved for your enjoyment and future generations as it passes on to your beneficiaries. 

Probate is the legal analysis and process of settling an estate that occurs after someone passes away with assets in their individual name. It may include paying off debts before distributing assets among beneficiaries and giving notice to potential creditors. Talk with your attorney about your specific estate plan and the benefits and disadvantages of a probate process.  

You should review your estate planning documents every three to five years and anytime there is a life changing event for you or your beneficiaries. 

Click here for a full explanation of when you should review your estate plan.