Monthly Tips
January 2025
TIP 1 Say Hello to New Experiences
It’s always hard to say goodbye, but a lot easier to say hello, making New Year’s bittersweet for many people. We’ve all grown in many ways throughout the last year, and the lessons learned will serve us as we create an even better next year. How will we enrich ourselves in the coming year, and turn our dreams into achievements? One path to success is to give yourself more time to focus on those dreams by outsourcing some of your financial chores. Think, Garden State Trust Company. Then focus on turning your dreams into achievements.
https://gstrustco.com/solutions-services/boomers-beyond/
TIP 2 Special Needs Trusts
A little planning now can save a lot of trouble later. This axiom doesn’t just apply to estate planning.
Having a special needs child or adult to care for means providing emotional, financial, physical, and logistical support. When that person is much younger than you, the realization often comes that someone other than you will eventually need to provide that support. Sometimes, that’s another family member, but sometimes one can create intergenerational support networks outside of familial ties too.
Not all trust departments or independent trust companies provide the benefits of “special needs” trusts; it requires specialized expertise and dedication. Garden State Trust Company as an independent trust company is proud to provide this service and have ties with local providers that have years of experience helping special-needs individuals who lack a support system for relatives. We cannot fully replace emotional support but can help families ensure that their loved ones continue to receive care and financial management and yes, with even some emotional support. We would be pleased to share our experience.
https://gstrustco.com/trusts-estates/special-needs-trusts/
TIP 3 The Best of Intentions Isn’t Always Enough
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. Read more about the differences between corporate and amateur trustees in our latest blog: Who Is the Right Trustee — Family, Friend or Corporate — For You?
https://gstrustco.com/about-us/a-case-for-an-independent-trust-company/
TIP 4 Request for Referrals
Are you a client of Garden State Trust Company?
If you are, and you enjoy our services as much as we enjoy having you as a client, we would be pleased to help your friends or anyone you may know that could benefit from our services too. If you were referred to us, pay it forward by referring someone else to us. We never share your information, or practice high pressure sales tactics, but are always happy to help or set someone on the right path even if it doesn’t involve trust services.
Please send them our way!
