Trusts can be complex, and many clients feel overwhelmed when trying to determine if a trust fits into their financial plan. That’s why we’ve created the “Considering A Trust” flowchart to help advisors and clients assess whether a trust may align with their goals and circumstances.

This flowchart simplifies the decision-making process into a few essential questions, offering clarity around common estate planning objectives like avoiding probate, minimizing estate taxes, and planning for minor children or unique family dynamics.

It serves as a starting point for identifying whether a trust could be a beneficial part of a client’s financial strategy before diving into the legal details with an estate attorney.

It addresses key considerations such as:

• Whether a client’s goals can be met with simpler strategies like beneficiary designations and asset titling
• If privacy concerns and probate avoidance make a revocable living trust worth considering
• When a special needs trust (SNT) may be necessary to protect benefits for a dependent
• Whether an irrevocable trust could help clients reduce estate taxes for clients with larger estates, or ensure the proper transferring of assets occurs in unique family situations (e.g., blended families, etc.)