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Can anyone quickly sum up the benefits of trust funds over other forms of savings? Is it just a tax deduction?

• icefox 14y ago
  Sounds like a perfect first thing that should be on their website.
• mynegation 14y ago
  From what I know, there is no trust-specific tax deduction, but you can do more detailed tax planning, e.g. trust may release funds gradually instead of paying hefty lump sum tax on inherited assets. Also, trusts allow for immediate access to funds upon death, avoiding lockup during probate process.
• bartonfink 14y ago
  I believe a trust fund lets you put conditions on what would otherwise be a "gift". For instance, if you die and you'd like to ensure your children go to college, you can set that as a condition for their inheritance by setting up a trust with an executor who's job it is to respect those conditions. I am sure that there are limits on said conditions and they could be challenged, but I'm pretty sure that this is a major benefit over just stroking someone a check.
• ironchef 14y ago
  Tons of things...avoiding probate and reduction of estate taxes are two of the biggest ones for me.