Selecting Modern Trust Structures Based on a Family's Assets

Trusts have grown enormously in popularity since the mid-1990s as a result of the development of modern trust laws, the dramatic increase in wealth and evolving family needs and goals. Modern trust laws promote many key desires of a family’s estate planning, such as flexibility, control, tax savings, asset protection, family values, governance, succession, education and privacy. When designing and structuring an estate plan, there is a round-up of available trust options to consider. It is also important to properly coordinate the family’s key desires with the selection of trustees, the type of trust and the type of trust administration.