Camila Tapias, MPA’s Post

When contemplating establishing a trust or replacing an existing trustee, there are crucial questions to pose to a prospective trustee. Paul Buckle, Director of Private Client Services, and Tracey Neuman, Private Client Executive, provide their wealth of knowledge and offer invaluable insights to ensure that mismanagement doesn’t come back to create problems for settlors and beneficiaries > https://lnkd.in/e3GbdhDH #TrustAdministration #FundServices

2024 may be the last opportunity to avoid significant estate tax liabilities. In 2025, the Gift Tax Exclusion limit is widely expected to be slashed by about 50%. Setting up an irrevocable trust ASAP can help protect your generational wealth transfer. Developing long-term tax efficient investment plans for multiple trusts was one of my favorite projects of 2023. Now that we're implementing them, I can't wait to look back in a decade to see the results.

Understanding Trust Funds: How They Work and Who They Benefit Read it here: https://rb.gy/tue4sm

Trust beneficiaries are often young people, and they’ll face many challenges and opportunities in life. Here’s how we help trust beneficiaries use family assets wisely to improve their lives and those of others. #trusts #estateplanning #financialplanning #wealthmanagement

Trusts are incredibly powerful estate planning tools Trusts can help: ✅ Avoid the probate process ✅ Carry out charitable intent ✅ Protect assets from creditors ✅ Help during illness or disability ✅ Remove assets from one’s estate ✅ Provide privacy and probate savings ✅ Protect assets from becoming marital property in a divorce And much more. Okay, so then what's the downside? Trusts can be complex and require specialized knowledge and expertise. This is especially true for high net worth families with complex financial structures and assets. It is important to work with a knowledgeable and experienced estate attorney and financial advisor to ensure that trust structures are created and managed effectively. *Trust services are provided by third parties. RBC Wealth Management and/or your financial advisor may receive compensation in connection with offering or referring these services. Neither RBC Wealth Management nor its financial advisors are able to serve as trustee. RBC Wealth Management does not provide tax or legal advice. All decisions regarding the tax or legal implications of your investments should be made in connection with your independent tax or legal advisor.*

Discover the basics of setting up a family trust fund.

This unfortunate situation highlights the importance of oversight and due diligence when creating and administering trusts, especially for special needs trusts. Trustees have the duty to act in the best interests of the beneficiaries. It is important that trustees hold high standards of integrity when they take on these roles.  #estateplanning #trusts #estatebattles #nyestateattorney #specialneedstrusthttps://lnkd.in/eSAQYZfe

Increasingly, we are seeing clients whose capacity has become a concern, which becomes apparent when the client may no longer be able to understand their finances or give proper instructions. Only then do we learn that the client’s incapacity and estate plan is non-existent or does not meet their current needs. Read more from Scotia Wealth Management. https://lnkd.in/gaTGMydN #calgary #yyc #investing

Grantor's Intent may be the most important but overlooked part of an estate plan. This should be a "must" for high-net-worth clients. Grantor’s Intent can take many forms: ✉️We’ve seen it executed as a series of letters from the benefactor. 👪 We’ve even seen Grantor’s Intent take the form of a family mission statement. 📝On rare occasions, it can be captured in the language of the trust structure itself. However included, the Grantor’s Intent provides guidance for trust administrators and beneficiaries. It helps trustees administer the trust in accordance with the benefactor's wishes, ensuring the preservation of the Grantor's legacy and the successful transfer of wealth to future generations. Read more: https://hubs.ly/Q02G10lJ0 #estateplanning #wealthtransfer #trustadministration

A trust fund is a special kind of estate planning which enables one to grant their wealth to another person who can be their spouse, children, grandchildren or anyone they nominate. "The basics Of A Trust Fund You Should Know About" https://bit.ly/3vMarKw