Private Trust Company What is a Trust?A trust is simply your instructions for the management of all or part of your property. An attorney who represents you and has specific expertise in the area of estate planning should write your trust. The trust document describes:How you want your assets managed, and eventually dispersed?Who you want to benefit now and in the future?Who you want responsible for carrying out these instructions?What can a Trust do for You?Trusts, when properly set up, provide instructions for the safe and accountable management of family assets in accordance with your wishes, goals and objectives.Trusts are used to ensure the proper management of your assets at all three stages of your life:During your active lifetime, placing assets in a trust allows you freedom to continue managing your assets or to devote time to other priorities. A trust created and funded during your life is generally called a "living" or "revocable" trust.In the event you are incapacitated, a trust can ensure that finances are handled according to your stated desires and for your benefit.Upon your death, a trust becomes "irrevocable," and your assets are managed and distributed by your trustee, in accordance with your instructions throughout the trust’s existence.An estate planning attorney may recommend creating an irrevocable trust during your lifetime, in addition to a revocable trust. This may provide creditor protection, controlled giving to family members or estate tax minimization.Trusts also provide a degree of protection for family members who may be unaccustomed to dealing with financial matters. They can offer protection of assets in case of divorce or other litigation. Trusts can assure that funding you set aside is available for specific needs, such as education, health care or charitable interests. Trusts provide a framework in which money is managed in a predictable fashion, by persons you choose, according to standards you set. Trusts create guidelines for current and future distributions that reflect your wishes. Trusts may also have substantial tax benefits and provide an expedient method to transfer assets.Learn more about the Private Trust Company and what it can do for you.LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.