If parents are forming a trust of $5+ million in assets and if my brother and I are the beneficiaries, what are the benefits of having a trust?
How does trust works when there are two beneficiaries (and if the beneficiaries become co-trustee or not) in terms of payment in property taxes, income tax, etc and giving living allowances/living expenses or money to the beneficiaries?
Parents wants me to include my real estates into their trust to be shared by my brother. I already make ~100k a year from rental income but I do not wish to put my personal real estate into the trust. I do not see the benefit for me if I were to put in my personal properties into the trust that is to be shared by my brother.
Can someone give me some insight on the benefits of trust and if someone has personal experience on how they were paid from the profits/income of the trust funds? And other things I should know know or watch out for?
Submitted June 20, 2018 at 04:25PM by trustissue25 https://ift.tt/2JVHN6D
