Trust Fund Stereotype

Written By Cora

To a point, “Trust Fund Babies“ becomes a wealth certificate. However, if you live in California or New York, truth is almost every family has a trust. So which trust is suitable for what net worth? Let’s reveal in 1 min.

Under $1–2 million:

  • A Revocable Living Trust often suffices to avoid probate and provide straightforward estate management.

  • Testamentary trusts may be set up through a will for more basic needs (especially if you have minor children).

    $2–10 million:

  • A Revocable Living Trust remains a core planning tool.

  • Consider Irrevocable Trusts or ILITs if you want added asset protection or to reduce potential state estate taxes.

    Over $10 million:

  • You may need advanced irrevocable trusts (GRATs, Charitable Trusts, Dynasty Trusts) to manage estate tax exposure and protect considerable assets.

  • Often involves coordinating with an estate planning attorney, tax advisor, and possibly corporate trustees for ongoing administration.

A simple fact is: the more wealth you obtain, the more trust you will set up.

Cora

With 10 years of experience managing wealth for millionaires, billionaires, and BigLaw firm partners across mainland China, Hong Kong, Los Angeles, San Francisco, and Silicon Valley, Cora brings a unique fusion of expertise in global deal sourcing, structured financing, portfolio management, capital markets, and investment banking solutions. Having managed over $3 billion in assets and worked with hundreds of business leaders, she drives strategic cross-border solutions and fosters a collaborative ecosystem. Licensed in three jurisdictions, Cora is adept at navigating regulatory complexities in dynamic markets.

https://www.linkedin.com/in/coragao/
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