Trusts can help you control your assets and build a legacy.
FIDELITY VIEWPOINTS

Key takeaways
Trusts can help pass and preserve wealth efficiently and privately.
Trusts can help reduce estate taxes for married couples.
Gain control over distribution of your assets by using trusts.
With a trust, you can ensure that your retirement assets are distributed as you’ve planned.

If you haven’t stopped to consider how a trust may help you pass your wishes and wealth on, you could be making a critical estate planning mistake. Especially for individuals with substantial assets, protecting wealth for future generations should be top of mind.

“People often fail to appreciate the power a trust can have as part of a well-crafted estate plan, but that can be a costly mistake,” says Rodney Weaver, VP, Advanced Planning at Fidelity. “Trusts are flexible and powerful tools that can be used to gain greater control over how they pass their wealth to future generations.”

A trust is a legal structure that contains a set of instructions on exactly how and when to pass assets to trust beneficiaries. There are many types of trusts to consider, each designed to help achieve a specific goal. An estate planning professional can help you determine which type (or types) of trusts are most appropriate for you. However, an understanding of the estate planning goals that a trust may help you achieve is a good starting point.

— Read on www.fidelity.com/viewpoints/personal-finance/reasons-to-consider-a-trust