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Why are Trusts Useful and Necessary

Lawrence H. Nemirow April 5, 2022

• Allow the persons who create them to exercise control (The “Dead Hand”)

• Make certain that a person’s assets pass to the desired persons

• Professional management investment

• Asset protection

• Protect children and grandchildren until they have reached maturity (or beyond)

• Address disability and old age

• Avoid or reduce income, estate and inheritance taxes

• Avoid probate

• Achieve significant estate tax savings through the use of sophisticated estate planning techniques

• Allow a person to realize charitable goals

• Providing protection from creditors