When do I need a trust?
0:04
I could say that everyone needs a trust
0:06
but that would be a really generic
0:07
answer so for most folks the most
0:11
important things to look at to determine
0:13
whether you need a trust are do you have
0:16
a blended family so do you have
0:18
stepchildren or are you coming into the
0:20
into a marriage with children and you’re
0:23
going to have children with with your
0:25
new spouse another factor that people
0:28
take into account about whether they
0:30
need estate planning or not is whether
0:32
they have a loved one or a family member
0:34
with with a disability such as being on
0:36
the autism spectrum or having Down
0:38
syndrome or having a physical disability
0:41
that means that they need supportive
0:42
living care for themselves really trusts
0:45
are fantastic vehicles for anyone who
0:48
wants to Future proof their life savings
0:50
or their home there’s two steps to
0:53
estate planning first someone typically
0:56
the life cycle is someone gets a
0:58
financial advisor and that financial
1:00
advisor will help them to start the
1:02
process of accruing and Building Wealth
1:05
then we as estate planners can help that
1:08
person to Future proof that well future
1:11
proof that wealth to keep it with them
1:14
and with their loved ones sometimes we
1:18
have clients who come in who have
1:20
younger children maybe they’re in their
1:23
teens or maybe they’re in their early
1:25
20s and these are children who are
1:28
likely to get married in the future
1:29
maybe they want to go to grad school in
1:31
the future so our clients want to make
1:34
sure that the inheritance that they’re
1:37
leaving their children doesn’t get split
1:40
up between divorcing spouses so half of
1:43
the child’s inheritance in other words
1:45
wouldn’t go to their divorcing spouse or
1:48
all of their inheritance wouldn’t go to
1:50
student loan debt so in that way we
1:53
really help our clients to make sure
1:56
that through a trust the money that
1:58
they’ve spent a life building stays with
2:01
them and the people that they wanted to
2:03
go to