What is a wealth protection trust?
A Wealth Protection Trust is a legal document similar to an asset protection trust. It can be considered a more advanced planning tool for those with higher net worth.
What are the benefits of a wealth protection trust?
The benefits of a Wealth Protection Trust:
Probate can be avoided
Can limit the amount of tax on your estate
Can be modified very easily
May provide liability protection for assets
HOW MUCH DOES A WEALTH PROTECTION TRUST COST?
While a Wealth Protection Trust may be more of an investment than other planning tools, it provides the benefit of allowing your assets to transfer more smoothly and results in lower cost in the end. It can be a great tool for business succession.