Common Trust Fund Questions for Beginners
Are you considering a trust fund? Trust funds are a very useful tool for saving and investing money, but a lot of people aren’t totally sure how to use a trust or even how they work. Trust funds essentially hold assets, like property, a business or money, for the benefit of another person, a group of people or even an organization. There are several common questions regarding trusts, so let’s take a look at some of them.
- How are trust funds structured – a trust fund is a specially created entity that is held in the state where it was formed. In some states you can create perpetual trust funds, which never end, while other states only allow trusts with a termination date.
- What are the reasons to use a trust fund – there are many reasons to set up a trust, but one of the best reasons is that they can protect your assets from creditors. Another reason to use a trust is to protect your assets from untrustworthy family members. You can use a trust to save thousands or even millions of dollars from taxes by donating the trust assets to a charity.
- When is the right time to form a trust – this is a wide-open question because every situation is unique. It depends on your reason for setting up the trust, how much you will be putting into the trust and who will be the beneficiary. It’s best to speak with a professional to determine when the right time is for you.
If you think you are ready to create a trust then come talk with us at GROCO for more ideas and information. One of the biggest factors to consider is how your trust will affect your taxes. We will help you look at all your options and make sure that your trust is set up to be as tax-friendly as possible. Just give us a call at 1-877-CPA-2006, or click here to learn more.
Transforming Ag Extensions in India: A Moment with Rikin Gandhi of Digital Green
Rikin Gandhi is chief executive officer of Digital Green. Rikin’s interests include sustainable agriculture and technology for socioeconomic development. He co-founded Digital Green as a research project in Microsoft Research India’s Technology for Emerging Markets team and now leads the spin-off of Digital Green that works to amplify the effectiveness of agricultural development globally. Rikin is a licensed private pilot and received patents for linguistic search algorithms that he helped
Why Venture Capital is Exciting and Rewarding | Robin Li
Robin Li is a VP at the GGV Capital Silicon Valley office. She focuses on investments in ecommerce and consumer internet. She is a member of the board of directors for Lively and is actively involved with Boxed, Bustle, Function of Beauty, musical.ly, Ibotta, OfferUp, Poshmark, Xiaohongshu, Yamibuy, and more.Prior to joining GGV, Robin worked at Flextronics’ Venture Arm covering hardware and technology investments and at Qiming’s Beijing office. Before venture capital, she spent three years at
Gaining the Trust and Confidence of those Around You
Gaining the Trust and Confidence of those Around You Whether it be in business or everyday life trust and confidence are key ways of how we interact with others. Building trust with your boss could land you that next promotion or show people that you are someone they can count on or could open doors…
Use These Helpful Tips Now to Make Next Year’s Taxes Easier
Use These Helpful Tips Now to Make Next Year’s Taxes Easier The 2018 Tax season has come and gone. By now you’ve probably already forgotten about them. However, if you want to get ahead on next year’s taxes, now is the perfect time to start. The more prepared you are, the easier tax filing will…