Affluent Investor Fact: What percentage of millionaires hold a trust?
Did you know that only half of the wealthiest households, those with more than $5 million in net worth, hold assets in the legal structure of a trust?
In recent research conducted by Spectrem Group with investors who have more than $5 million in net worth, it was found that only 49 percent had a trust.
Why is this important? Because for many wealthy households, it is important for tax planning and estate planning purposes to ensure that they are protecting various assets through the use of a trust.
How does one know whether or not a trust is appropriate? For federal tax planning purposes, the estate tax applies to those several million dollars. In contrast, state estate tax laws vary.
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