There are three primary methods for distributing an inheritance: Outright. The simplest approach is to give the heir full control of the inheritance, without restrictions. For heirs with sufficient financial maturity and investment savvy, this may be appropriate. General needs trust. Trust planning comes immediately to mind when planning for a surviving spouse or an…
Year: 2025
Who Is the Right Trustee — Family, Friend or Corporate — For You?
Choosing the right trustee for your estate plan is one of the most critical decisions you’ll make. Many individuals initially lean toward appointing a family member due to familiarity or cost-saving assumptions. However, this decision can lead to unintended challenges. Instead, selecting a corporate trustee, such as Garden State Trust Company, can provide long-term benefits…