Choosing a Legacy Trust

Whichever option you choose, a Legacy Trust exists to meet your goals today and in the future. However, there are advantages and disadvantages of each option.  Mr. Skabelund will educate you as to which trust is right for you.

An additional benefit to each of the Legacy Trusts is that it provides for the smooth management of your MPI Plan if you are unable to manage your financial affairs due to mental incapacity, such as a stroke, dementia, Alzheimer or an accident.  Your Legacy Trust can prevent the need for a conservatorship, which typically costs thousands of dollars and must be renewed each year.

Key benefits of a Legacy Trust are the ability:

  1. To purchase MPI Plans on the lives of your descendants.  (Children and grandchildren can qualify for your income!)
  2. For you or someone you name to control all the MPI plans in your Legacy Trust during your life and after you die.
  3. To protect your wealth from your loved one’s creditors, lawsuits, bankruptcy, divorce and government aid qualifications.
  4. To reduce estate taxes for you and your descendants.
  5. To continue purchasing additional MPI plans for generations.
  6. To create wealth for generations rather than just your children or immediate heirs.

Schedule your consultation today!

You should seek independent tax counsel regarding your estate and gift taxes in your state.