Financial Planning, Trust and Estate Services

Do you have a will?  When was the last time it was reviewed for changes in beneficiaries, tax laws, state of residence, property ownership and any legacy or charitable intent?

Do you own annuity or insurance contracts?  When the last time those investments were reviewed for correct beneficiary information, ongoing value and purpose and investment allocation?

If you have no will, each State will make one for you based upon the intestacy laws of your state of residence. The State will determine who will receive your property and what share they will receive.

Have you considered powers of attorney or a living will as part of your overall plan? Powers of attorney cease to be in effect on the death of the grantor.

The issue of estate and gift taxes is highly volatile and subject to dramatic changes in the near term. It is an important topic to sustain at a high level of awareness.

Consulting with a Regent Financial Services Advisor in conjunction with your attorney and CPA on how to maximize the value of your estate for the benefit of your heirs is an important planning step.  Often, combining a trust in conjunction with your will may be the most effective plan. Regent Financial Services in coordination with its trust services provider can serve your needs.

We can address:

  • Asset protection Trusts
  • Dynasty Trusts
  • Living Trusts
  • Special Needs Trusts
  • Charitable Trusts
  • Trusts under Will
  • Foundations

Contact your Regent Financial Services Advisor today to begin the process at 954 786 5863 or send us the Contact Me Form. 

Asset Protection Trusts

Trusts may also provide protection from your creditors, especially creditors of your beneficiaries.  The level of protection depends upon the governing state laws. Delaware laws provide for rigorous enforcement of spendthrift provisions (this means your beneficiaries creditors generally can’t reach trust assets; and Delaware law allows trust to last in perpetuity (commonly called Dynasty Trusts).

Delaware law allows for self-settled spendthrift trusts. In other words, a client may establish a trust with his or her own funds, retain an interest in that trust, and yet protect those assets from his or her future creditors.

For asset protection trusts, if the trustee is a Delaware resident or corporate trustee a grantor may retain the ability to:

  • Veto distribution from the Trust
  • Determine who will receive trust assets at his or her death other than creditors
  • Receive income
  • Receive principal subject to an ascertainable standard
  • Serve as an investment advisor to the trust.

There are no disadvantages to a Florida resident having a Delaware Trust:

  • Delaware does not tax income or capital gains accumulated in trust of an out of state beneficiary
  • There is no Delaware income tax on income distributed to out of state beneficiaries
  • Delaware does not have an intangible personal property tax
  • Delaware does not have a death tax on property outside the State held for non-residents
  • Delaware does not have a sales tax

Personal Trusts

Living Trusts

Living trusts serve you well to manage family funds now and in the future. In many instances it can provide the same objectives as a will, without public disclosure. The provisions can always be changed.   A revocable living trust offers long-range planning advantages.  You may arrange for the Trustee and the Regent Financial Advisor to take on broad responsibilities for managing your financial affairs.  Each trust client has just as much investment control as the client wishes. Typically we provide professional management or investment guidance tailored to each client’s needs and preferences.

The role is clear. We follow the client’s instructions, as set forth in the written trust agreement, consistent with all applicable laws and fiduciary duties. Clients always retain the right to terminate the trust or change trustees.

No one can escape the risk of an incapacitating illness or injury. When that occurs, a living trust can allow the trustee to act on your behalf. The trust agreement permits the client to determine how their finances can be handled during their temporary or longer term need.

Trusts for Children

Trusts for children give the next generation a solid financial foundation. An inheritance may need protection from any number of risks. Simple financial immaturity and lack of investment experience, the temptation of higher living standards, addictions, ill-advised business ventures, and claims of creditors, notably ex-spouses.

Special Needs Trusts

Special needs trusts can provide a lifetime supplement for someone with special needs. Caring for those with special needs is an expensive and lifelong need.   There are planning strategies that can help provide supplemental financial support for special needs without jeopardizing qualifications for government assistance. These trusts must adhere to governmental guidelines. They support the individual’s dignity and seek to improve their quality of life.

Charitable Trusts

Philanthropy and family protection are not mutually exclusive. Charitable trusts have long been an important part of estate planning while establishing a family legacy.  Certain provisions may permit family beneficiaries to continue to receive income during their lifetime with the charity to receive whatever remains.

Foundations

There are investment needs for both private and nonprofit foundations in order to produce results which permit these organizations to better serve their purpose. Choosing the appropriate asset allocation and investment managers or strategies fulfills in part the fiduciary responsibility of the Trustees and meets the purpose of the entity.  Regent Financial Services can provide the guidance and execution to accomplish those objectives.

For more information on our Estate and Financial Planning contact one of our Regent Financial Services representatives.



Disclosure:
Regent Financial Services are available at 1540 South Federal Highway, Pompano Beach, FL 33062 or by appointment at a time and place of your convenience. Investments and insurance products and services are offered through Infinex Investments, Inc., Member FINRA/SIPC. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk including the possible loss of value.