If you've not seen the 2019 edition you may have overlooked what wealthy families and their advisors have missed.
Every wealthy family wants to protect its legacy. As time unfolds, however, this gets harder and harder to do. The drag of time and taxes can significantly reduce even the most sizable nest egg.
But if you know how to play your cards right, the wealth you’ve generated over the course of your life can last your descendants for generations--and even grow if dealt with correctly.
That’s just what the America’s Best Trust Companies For Wealthy Families guide will help you do.
By providing detailed information about the true nature of trusts and the role of trust companies, transparency into trust companies’ charges and specialties, and knowledge about the technology they use as well as the support these companies provide, the guide to America’s Best Trust Companies For Wealthy Families allows readers to make the best possible decision when it comes to which trust company they choose. While death, disability, and divorce are the biggest threats to wealthy families, a well-executed trust can handle those concerns, and America’s Best Trust Companies For Wealthy Families can help make sure your trust is in the right hands.
Afterall, you didn’t get to where you are by resting on your laurels. You worked hard, spent time and effort, blood and sweat, to build what you have. Nonetheless, once control is out of your hands, and a variety of heirs are in play, it takes just one bad apple to spoil the assets that should have assured the future of your great grandchildren.
As it turns out, 70 percent of all once-rich families end up back in the working class before the second generation passes away. To make matters worse, by the time the grandkids are gone, not even one in 10 dynasties survive in any form the founders would recognize. Three generations. Maybe a century. That’s how long a family fortune usually lasts.
This is because most dynasty founders fail to structure the transfer of wealth and authority in any meaningful way, sometimes leaving their children in control of all the resources that it took a lifetime to build and nurture.
How do you navigate against an uncertain future? A trust.
A trust gives the creator the ability to make choices, guiding heirs beyond the point where mortality makes face-to-face advice impossible. Because the trust is a distinct legal entity, its lifespan is bound only by statute. While the structure will eventually dissolve when the assets are gone or the line of succession ends, immediate freedom from mortality ensures that a properly drafted trust will never pay inheritance tax or suffer through the grinding probate process. The assets simply pass on to the beneficiaries in a conventional financial transaction.
60 percent of all families with at least $250,000 to invest already have relationships with at least one trust — as beneficiaries, creators or both. It’s a known fact that trusts provide an edge. And with the right incentives, a trust can become the ethical backbone for generations as well as the financial wellspring that pays the bills. But still without the right trust company, the chance of that wealth making it to your great grandchildren, or even your grandchildren, is decidedly less.
This is where America’s Best Trust Companies For Wealthy Families steps in. It provides you with all the details you need to consider when selecting a trust company: perpetuities, states with favorable tax rules, asset protection options, you and your inheritors’s privacy.
They polled professional wealth managers to see what they want from a trust company
and who they like. They considered reputation, dedicated trust officers, years of experience, jurisdiction, and the ability to adeptly deal with alternative assets.
Trusts have obvious advantages, but these instruments are still only as good as the people who draft the documents and direct their operations. America’s Best Trust Companies For Wealthy Families takes the time to point out the most common pitfalls and mistakes people make when creating a trust and choosing a trust company, from the drafting of documents to how to make sure investments are managed well.
If you’re looking for the secrets on how to make sure multi-generational wealth stays that way, they’re inside the America’s Best Trust Companies For Wealthy Families guide. It provides readers with a checklist created for professionals, the questions you should be asking when considering different trust companies, and even a glossary of terms to help you build a better understanding.
Protect your legacy with America’s Best Trust Companies For Wealthy Families.
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