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3737 Glenwood Ave., Ste. 100
Raleigh, North Carolina
Telephone (919) 872-
How to Make a Trust
Introduction
Trusts are the tools used by estate planners to achieve their client’s specific legal, financial and tax objectives. The variety of trusts which can be established and the manner in which such trusts can be utilized are almost unlimited in scope.
This guide is intended to introduce you to the concept of a trust, explain the differences between some commonly used trusts, and assist you in making the fundamental decisions necessary to implement the most commonly used trusts in estate planning.
This step-
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3737 Glenwood Avenue
Suite 100
Raleigh, NC 27612
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The following steps are discussed in this guide:
Step 1: Understanding how a basic trust works
Step 2: Identifying the difference between a lifetime trust and a testamentary trust
Step
3: Identifying the difference between a revocable trust and an irrevocable trust
Step 4: Understanding what a living trust does (and does not do)
Step 5: Establishing a trust for your children
Step 6: Establishing a trust for your spouse
Step 7: Establishing a trust for persons with special needs
Step 8: Establishing a credit shelter trust to minimize estate taxes
Step 9: Establishing an irrevocable trust to minimize estate taxes and protect assets
Step 10: Choosing a trustee to manage the trust
Please note that this guide is not intended to provide a comprehensive look at trust law in North Carolina. You should consult with an attorney to determine in any of the trusts discussed herein are appropriate for your estate.
