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Personal Trust

A personal trust is a legal arrangement that allows an individual (typically referred to in a trust document as the "grantor") to pass property to loved ones and/or charities upon his/her death.

A personal trust has a number of advantages over a traditional will and can be used for managing both personal and business assets.

A personal trust allows the grantor to:

  • Manage distribution of assets to heirs over time
  • Support a surviving spouse
  • Provide for children or grandchildren
  • Potentially reduce estate taxes
  • Distribute assets to heirs without probate costs or delays

What's more, for business owners, a personal trust can help to resolve some of the following succession issues:

  • Ownership transfer
  • Asset liquidation and distribution
  • Asset protection from creditors and lawsuits

There are many advantages Principal Trust Company can provide as trustee for a personal trust, including:

  • Administration under Delaware state laws which provide asset protection, state-level taxation exclusions, privacy and confidentiality
  • Peace of mind knowing the trust will be executed by an unbiased, experienced team of trust professionals
  • Collaboration with a financial professional, as the relationship manager, to help ensure the trust will incorporate all financial and estate-planning goals

To learn more about personal trusts, check out these frequently asked questions (FAQs) and visit our trust-types page.

For more information about personal trusts, call Principal Trust Company at 1.800.332.4015 option 2, or visit our personal trust resource.

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