Protecting Prosperity: The Power of Trusts in Financial Planning

As you embark on your estate planning journey, consider how trusts can help protect your assets and achieve your financial and legacy goals. “Trusts are very convenient in that they allow you to be specific about your intentions for the wealth you’ve accumulated over your lifetime,” says Chuck Dickson, Byline Bank Vice President and Portfolio Manager.

Trusts enable families to access income in the near term and provide for beneficiaries after the benefactor passes away. The spectrum of trusts available means you can tailor them to your unique financial circumstances. For instance, you can implement trusts to provide income to a surviving spouse, fund care for a child with special needs, address tax concerns, support charitable causes and more.

“Trusts are one of the most powerful tools in your estate planning tool kit,” Dickson says. “They should be an integral part of your financial planning process.”