Northwest Bank Provides Trust Tips For National Financial Capability Month
April 7, 2023 at 8:56 p.m.
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For people looking to protect their assets while ensuring beneficiaries can easily access various accounts, setting up a trust may be the most effective option. As a legal contract that ensures that assets are managed according to one’s wishes, trusts can provide potential tax benefits and the ability to set parameters for how and when assets will be used and distributed – during and after the person’s lifetime.
Estate planning is often a difficult conversation to have with loved ones. However, these discussions are needed to express a person’s wishes and help ease the burden on others. Drafting a will is one way to do that. Often a trust serves as a better option to express one’s wishes because trusts provide for unique family circumstances, such as addressing privacy concerns, avoiding potential disagreements between family members, protecting a beneficiary who is financially unwise, or providing for a disabled loved one.
For more information on Northwest Bank’s trust offerings, visit: https://www.northwest.bank/wealth/preserve/.
For people looking to protect their assets while ensuring beneficiaries can easily access various accounts, setting up a trust may be the most effective option. As a legal contract that ensures that assets are managed according to one’s wishes, trusts can provide potential tax benefits and the ability to set parameters for how and when assets will be used and distributed – during and after the person’s lifetime.
Estate planning is often a difficult conversation to have with loved ones. However, these discussions are needed to express a person’s wishes and help ease the burden on others. Drafting a will is one way to do that. Often a trust serves as a better option to express one’s wishes because trusts provide for unique family circumstances, such as addressing privacy concerns, avoiding potential disagreements between family members, protecting a beneficiary who is financially unwise, or providing for a disabled loved one.
For more information on Northwest Bank’s trust offerings, visit: https://www.northwest.bank/wealth/preserve/.
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