Sean Tanko

Las Vegas Estate Planning & Probate Attorney

  • Home
  • Trusts
  • Wills
  • Probate
  • Blog
    • Articles
  • Contact Sean

Nov 21 2017

Three Reasons to Set Up a Trust for Your Kids

More people these days are setting up a trust for the kids. There is a stereotype that a trust fund is only set up by wealthy people. However, people of other income brackets can set up trust funds as well. To do so, all they need to do is meet with a trust administration lawyer in Las Vegas and do some paperwork along with depositing some money. There are several benefits that can be gained by establishing a trust. There are certain tax benefits that can be gained immediately, you can ensure the financial future of your kids, and the structure of the trust ensures that young people will not frivolously drain the funds. To learn more, read on.

Taxes

As previously mentioned, there are certain tax benefits for people who deposit portions of their income into a trust. These exact tax benefits differ depending on the situation, the type of trust, the level of income, and the current ever-changing tax code. Some people may see significant tax benefits over others. You should meet with a tax professional to learn more about the tax benefits of setting up a trust.

Ensuring Their Financial Future

Every parent wants to help ensure their kid’s financial future. Setting up a trust that you can make deposits in year after year and that your kids will be able to access as soon as they reach the age of majority is one way to do this. It may be the safest and most stable way to do this. Trust administrators are trained in keeping the funds of the trust as safe as possible, so you don’t have to worry about them being exposed to a high level of risk.

Structure

Many people also like the structure of a trust. If you simply give your child a lump-sum on their 18th birthday, they may spend this very quickly. However, with a trust, you can structure the trust so that payments are made of a fixed amount on a fixed schedule. This will ensure a steady income for your children for a specified length of time.

Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Email this to someone
email

Written by editor · Categorized: Blog

Call Us Today!

702-463-8700

Email Us

Use the form below to send us an email. A representative will call you back within 24 business hours.

Practice Areas

Our law firm specializes in the following:

  • Trusts and Wills
  • Estate Planning
  • Asset Protection
  • Probate
  • Trust Administration
  • Guardianship
  • Business Planning

Office Location

We'd love to meet you in person! Walk-in appointments are available. Please give us a call at 702-463-8700 to set up an appointment.

Our office is conveniently located at:

8670 W. Cheyenne Ave.
Suite 130
Las Vegas, NV 89129

We also make house calls, so we can come to you to discuss your needs.

Find Us

Facebook
Twitter

Notice to the Public: Nothing contained on this Web site or communicated through it by any means, including e-mail, by the prospective client, will create an attorney-client relationship.
Neither the State Bar of Nevada nor any agency of the State Bar has certified any lawyer as a specialist or as an expert.
Anyone considering a lawyer should independently investigate the lawyer's credentials and ability.

Copyright © 2015 - 2020 · Sean Tanko