Trump Family Brings Trusts to Forefront

Trusts becoming subject of public discussion. Ivanka Trump’s trust is bringing some light to shine on the subject of trusts, according to The New York Times article "Despite a Trust, Ivanka Trump Still Wields Power Over Her Brand." Trusts are not often a subject of much public discussion. They are important to estate planners, but as a matter of pressing national concern they rarely register. But, they are now in the news because of the Trump administration and how members of President Trump's family are using trusts to hold their assets. There has been considerable discussion on whether the President's family is using trusts in ethically appropriate ways. While the press reporting has been mostly over the concerns about the ethical considerations of the Trump family trusts, there is another possible story. What the Trumps are teaching us is that trusts can come in all sorts of shapes and sizes. They can be created for different purposes and give different people various levels of control over the assets in the trusts. Whether or not you care about the ethical considerations of the Trump trusts, pay attention to the different things they do with their trusts. It might give you some ideas about what you can do with trusts that you can make part of your estate plan. An estate planning attorney can advise you on creating an estate plan that will meet your unique circumstances. That plan may well include trusts. Reference: New York Times (March 20, 2017) "Despite a Trust, Ivanka Trump Still Wields Power Over Her Brand."