Lori Kilpeck Discusses the Benefits of Establishing Trusts to Preserve Assets for Cleveland Jewish News

Brouse McDowell partner and co-chair of the Trusts & Estate Practice Group Lori Kilpeck was recently interviewed for an article in the Cleveland Jewish News discussing the benefits of establishing a trust as part of one’s estate plan.

In the article titled, “Numerous Benefits to Establishing Trusts to Preserve Assets,” Lori discusses that clients should recognize all of their assets and who they want to designate as beneficiaries. The article further discusses the importance of asset titling and notes that trusts can hold most assets so that ownership, titling and beneficiary designations should be reviewed with the client.

Lori also explained the benefits of a trust such as estate and tax planning, privacy and the protection for beneficiaries and mentioned the common misconception that all trusts protect assets from creditors and from being spent for long term care.

Lori concludes with stressing the importance of starting with a client’s overall wishes, who the client wants to see as his or her beneficiaries and who they feel is appropriate to be named as a fiduciary when creating a trust as part of the estate plan.

To read the full article on Cleveland Jewish News, click here.