Personal trusts can be a fundamental part of your financial and estate planning. Creating a trust is a collaborative effort involving you, your Ameriprise financial advisor, and tax and estate lawyers. A key decision in this process is choosing who will serve as your trustee.
Ameriprise® Personal Trust Services provides professional corporate fiduciary services to help ensure the legacy you desire is carried out according to your wishes.
When you choose to work with your Ameriprise financial advisor and Ameriprise Personal Trust Services, you will have access to a team of professionals that can help you:
Your situation is unique, and your Ameriprise financial advisor, working with other professional advisors, can help tailor an estate plan appropriate for your needs. Consider one or more of the following trusts as you develop your estate plan:
Revocable Living Trusts provide the most flexible options. You can alter, amend, or revoke the trust terms when you choose to. They can provide privacy and help simplify your estate settlement, particularly if you own property in more than one state. They can also help you if you are injured or incapacitated and can't manage your own financial affairs.
Irrevocable Trusts cannot be changed once established. They may provide estate tax savings or liability protection for family members. You can use these to reduce the size of your estate by gifting assets to your family, and you can fund them during your life as well as after your passing.
Charitable Trusts are irrevocable and designed to ultimately benefit a chosen charity. They may also help you defer capital gains taxes on appreciated assets, reduce your estate tax liability and provide an income stream for you or another individual.
Testamentary Trusts are created as part of your will and only take effect after your passing. They may reduce estate taxes and can help you exercise control over how your assets will be used after your death.
Specialty Trusts address special circumstances, such as providing for heirs with physical or developmental disabilities. They can also be used to protect the interests of unmarried life partners. Using a professional trustee, a trust can help ensure the tax deferral of your IRA assets for your heirs after your passing.
To explore the estate-planning advantages of trusts, request a consultation with an Ameriprise financial advisor.
Ameriprise® Personal Trust Services is a division of Ameriprise Bank, FSB. Ameriprise Bank provides certain deposit, lending and Personal Trust Services. Neither Ameriprise Personal Trust Services nor Ameriprise financial advisors are authorized to give legal or tax advice that goes beyond the scope of its fiduciary responsibilities associated with serving as investment agent or trustee. For legal or tax matters that go beyond these roles, clients will need to consult their own legal and/or tax advisors.
Financial advisory services and investments available through Ameriprise Financial Services, Inc., Member FINRA and SIPC. Ameriprise Bank is separate from Ameriprise Financial Services, Inc. and is not a broker-dealer. Ameriprise Financial Services and Ameriprise Bank are subsidiaries of Ameriprise Financial, Inc.
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