A trust can help to ensure that your assets are managed in ways that will preserve them for you and your loved ones, says Meg M. Loitz, J.D., Vice President & Trust Officer for the TCU Wealth Management Center.
Placing assets in trust for your child instead of giving them outright may be a sound way to protect the assets. The trust could even include provisions that prevent your child from assigning their trust interest to creditors.
If you are caring for a child who has special health needs, you may be able to set up a trust to provide financial assistance without jeopardizing government benefits. The assets placed in trust are used exclusively to benefit your beneficiary — even after you are no longer there to help.
A trust is a flexible financial tool that can be useful in a variety of circumstances. To find out if a trust is right for you, please contact TCU Wealth Management at (574) 245-4735, ext. 5153 or visit the Trust Team page on tcunet.com to find a team member close to you.
This information is not designed, meant, nor does it constitute the rendering of legal or tax advice. You should consult with your attorney and/or tax advisor before implementing any strategy discussed here. Trust services provided by MEMBERS Trust Company are not federally insured, are not obligations of or guaranteed by the credit union or any affiliated entity, involve investment risks, including the possible loss of principle. MEMBERS Trust Company is a federal thrift regulated by the Office of the Comptroller or the Currency.