Legacy Private Trust Company is a full-service wealth management firm that offers financial planning, investment management, and trust services. They are committed to helping you create a successful future for your family by providing superior financial planning, investment management, and trust services. Their firm specializes in working with high-net-worth families and individuals as well as organizations with complex needs.
They believe that every client requires individualized attention because each one has unique needs and circumstances. They are committed to providing the highest level of service and support you can expect from any wealth management firm. Their team includes experienced professionals who have worked together for more than many years, building client relationships based on trust, integrity, and value for money.
Keeping up with changing times is not easy – especially when you are looking at changing regulations and new ways of doing business that may or may not be transparent to the average investor. But They have always been able to adapt because They understand what it takes to succeed in this space. They have learned from Their mistakes over the years and are committed to making sure Their clients are getting the best advice possible so they can be successful as well!
Legacy Private Trust Company is a full-service trust company offering the following services:
Trust Services: They help you protect and maintain your assets. They provide trust administration, estate planning, probate preparation, administration of trusts and estates, as well as estate tax planning services.
Investment Services: They offer a full range of investment solutions for both business owners and individuals. Their investment management services include asset allocation, portfolio management, retirement plan design and administration, real estate development, direct investments, and more.
Tax Services: They are committed to providing Their clients with the highest quality tax solutions available. They offer fiduciary advice on tax planning strategies which can reduce taxes owed or increase the amount of money that can be invested or saved.
A legacy private trust is a type of trust that is created to pass on an individual's wealth to future generations. The trust is created by an individual, known as the grantor, who transfers ownership of assets to the trust. The trust then manages these assets on behalf of the grantor's beneficiaries, who are typically family members.
Legacy private trusts are a popular estate planning tool because they offer several benefits. For one, they provide a way to transfer wealth to future generations while minimizing estate taxes. In addition, they allow the grantor to maintain a degree of control over how their assets are managed and distributed.
To set up a legacy private trust, the grantor must first select a trustee, who will be responsible for managing the trust's assets. This trustee can be an individual or a corporate entity, such as a bank or trust company. The grantor will then transfer ownership of their assets to the trust, which will manage these assets on behalf of the beneficiaries.
The trust's beneficiaries are typically the grantor's children or other family members. The trust can be set up to distribute the assets to the beneficiaries in a variety of ways. For example, the trust can distribute the assets to the beneficiaries in equal shares, or it can distribute the assets based on the beneficiaries' needs or accomplishments.
One of the key benefits of a legacy private trust is that it allows the grantor to maintain a degree of control over how their assets are managed and distributed. For example, the grantor can specify that the assets in the trust be used to pay for the beneficiaries' education or medical expenses. The grantor can also specify that the assets in the trust be distributed to the beneficiaries in installments, rather than all at once.
Another benefit of a legacy private trust is that it can help to minimize estate taxes. When assets are transferred to a trust, they are removed from the grantor's estate. This means that they are not subject to estate taxes when the grantor passes away. In addition, the assets in the trust can grow tax-free, which can help to maximize their value over time.
In conclusion, a legacy private trust is a powerful estate planning tool that can help to pass on an individual's wealth to future generations while minimizing estate taxes. By setting up a trust, the grantor can maintain a degree of control over how their assets are managed and distributed and can specify how the assets in the trust are to be used. If you are interested in setting up a legacy private trust, it is important to consult with an experienced estate planning attorney who can help you navigate the complex legal and financial issues involved.