A tool to gain control over your estate
A trust is a contract that gives an individual or an institution—like U.S. Bank, for example—the authority to hold legal title to assets while managing them for the benefit of others.
Trusts can help you ensure that your assets are distributed and managed according to your wishes. In certain circumstances, trusts may also create other benefits such as tax efficiencies.
Many grantors choose a corporate trustee to manage their trusts and settle their estates. For example, U.S. Bank has been administering trusts as a corporate trustee for over 100 years. Here’s what a corporate trustee does:
When you set up a trust you encounter a variety of critical financial issues.
Invest in ways that are consistent with your investment objectives and intent.
Work with tax and legal advisors to ensure your estate plan is comprehensive and properly documented.
Deliver tax information for personal income tax filing purposes; file tax returns for irrevocable trusts and provide required documentation to beneficiaries.
Protect personal matters from the public—including the identity of beneficiaries, statement waivers and sealed court documents—to avoid public court accountings.
Arrange for gifting to charitable organizations.
Consider options regarding governing state law for irrevocable trusts.