To server as family and/or financial planning tool To provide for retirement To obtain favorable tax treatment These are the primary reasons

Question

Quizplus · Accepted Answer

The primary reasons for establishing a trust are family and/or financial planning, providing for retirement, and obtaining favorable tax treatment.

Answer: B 
 Naming an institution as trustee can provide professional management and oversight of the trust assets, as well as potential expertise in tax and financial matters.

Answer: C 
 Safekeeping refers to the secure storage and protection of assets, such as in a safe deposit box or through electronic means. While important for asset protection, it does not address the primary reasons for establishing a trust.

Answer: D 
 Custodial refers to the management of assets on behalf of a minor or incapacitated individual. While relevant for certain types of trusts, it does not address the primary reasons for establishing a trust in general.

To Server as Family And/or Financial Planning Tool to Provide