• PLANNING

  • Once the purpose of the trust has been established and the selection of the type of trust is made, then the planning associated with the trust and the trust documents must take place. Usually this is done with a group of people, starting with the Grantor, the person creating and funding the trust. Other persons include CPA’s, attorney’s, family members, insurance agents, realtors, investment advisers, etc. There is complexity in the tax code, probate code, and related external factors. But there are also decisions about mental capacity, health care needs, life expectancy, standard and level of care, education needs, traveling, lifestyle and a variety of personal factors. The powers of the trustee, the successor trustee, the provisions of paying out income or principal, all must be determined to provide for a variety of circumstances. This is where the team of experts that have worked together and have lived through provisions that work well and not so well, come into the planning process. The collaboration of the trustees, the training, the sharing of facilities and resources, is the reason that Kern Fiduciary Services, Inc. exists. With proper upfront and ongoing planning, the grantor can have the comfort of knowing that the Trust will fulfill their purpose of the Trust.