What is a legacy trust?

Sometimes known as a wealth trust, a legacy trust is an irrevocable trust that lets you set aside assets for future generations. The legacy trust is a flexible asset protection and saving option that allows you to use funds for emergency situations or create an estate to pass on.

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What is a protective trust?

The term ‘protective trust’ is something of an umbrella term in the U.S., covering trusts that protect a person’s estate and/or assets. A protective trust refers to a trust that is designed to make sure that the income from the trust goes to the beneficiary for whom it was designated.

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What is an annuity trust?

A trust allows a person to set aside his or her property to be managed by another individual for the benefit of others. An annuity trust is one of several different types of trusts. When establishing an annuity trust, the settlor places property in the trust and the trustee not only manages the property but also pays the settlor or the beneficiaries a fixed income for a set period of time.

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