Page 4 - Jupiter West - February '23

Page 4, Jupiter West
Financial Focus

Passing Assets Through A individual or corporate entity that will manage the trust’s to provide mandatory income, perhaps once a year,
or include a provision that provides incentives, such
assets and carry out the purpose of the trust. You could
Trust: What To Know choose a trusted loved one, but this individual might as distributing certain amounts of money once the
not have the knowledge or experience to manage the beneficiary has achieved a milestone, such as finishing
By Sally Sima Stahl responsibilities of a trustee. As an alternative, you could a degree or purchasing a first home.
As the year winds down, choose a corporate fiduciary, such as a bank or trust One final note: Although you clearly have great control
your thoughts might drift company. These entities are typically regulated by outside over what your trust can accomplish, its effectiveness
to the future. And, as part agencies and provide significant public matter expertise. will also depend, to a great extent, on its asset level.
of that future, you may Of course, they charge for their services and often have With this in mind, you’ll want to pay close attention to
be thinking of where your account minimums. your investment decisions throughout your life and your
financial assets will end When are distributions made? As the grantor, withdrawal strategy during retirement. The better your
up. You’ve worked hard to you can choose when assets will be distributed to the choices in these areas, the more options you’ll have with
accumulate them, and you’ll beneficiaries you’ve named. You could decide to keep your trust – and the greater the potential benefits for your
certainly need some of them the assets in the trust until a beneficiary reaches the beneficiaries.
to support your retirement, age of majority; note that the age of majority is not the This article was written by Edward Jones for use by
but what about the rest? same in all states. Or you could choose to “phase in” the your local Edward Jones Financial Advisor, Edward
What’s the best way to pass them on to your loved ones? distributions at particular ages – e.g., 30, 35, 40 – or after Jones, Member SIPC.
There’s no single path for everyone to follow. But you a certain number of years. You could even hold assets Edward Jones is a licensed insurance producer in
might consider establishing a trust, which offers some in the trust for the lifetimes of the beneficiaries. These all states and Washington, D.C., through Edward D.
key benefits. For example, your estate can avoid the types of choices will depend on several factors, such as Jones & Co., L.P., and in California, New Mexico and
time-consuming, and highly public, process of probate. your feelings for how responsible a beneficiary might be Massachusetts through Edward Jones Insurance Agency
Plus, you can be highly specific about how your assets in managing money. of California, L.L.C.; Edward Jones Insurance Agency
will be distributed. For what purposes can the trust assets be used? of New Mexico, L.L.C.; and Edward Jones Insurance
To establish a trust, you will need to work with a In addition to choosing when your trust should make Agency of Massachusetts, L.L.C.
qualified estate-planning attorney. And while you’ll distributions, you can decide how these assets should Edward Jones, its employees and financial advisors
discuss many issues, here are three key questions that be used. You could designate some broad categories, cannot provide tax advice. You should consult your
will certainly need to be addressed: such as health, education, maintenance and support. A qualified tax advisor regarding your situation.
Who will serve as trustee of the trust? As the grantor, beneficiary’s request for distributions in these areas is Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
or creator, of your trust, you will pick the trustee – the usually granted. But you could also structure the trust 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.

Mexican-Born Painter Leon Ruiz from page 1 programming in schools and
communities in Palm Beach and 21
You will be able to meet Ruiz at the 38th ArtiGras Fine other counties within Florida. Hanley
Arts Festival presented by Hanley Foundation and produced Foundation is dedicated to working
by Palm Beach North Chamber of Commerce. The festival alongside community partners to
will run from 10 a.m. to 5 p.m., Feb. 18 to 19, at the Gardens promote healthy lifestyles and to
North County District Park in Palm Beach Gardens. positively influence attitudes, norms,
“I am honored and thrilled to be ArtiGras’ commemorative and values by empowering individuals
poster artist this year. ArtiGras is such a unique and and families while helping supply
memorable show. It has years of history and being part of need-based treatment scholarships to
the list of talented poster artists for such an incredible show individuals with demonstrated needs
is humbling,” said Ruiz, who has been the poster artist for in Palm Beach County.
two other art shows. “This is my second year showing in About Palm Beach North Chamber
ArtiGras. I had applied for years and was never fortunate Of Commerce
enough to get picked. It was definitely worth the wait.” The Palm Beach North Chamber
ArtiGras showcases a juried exhibition of outstanding of Commerce is one of the largest and
fine art along with activities which include artist and chef most active business organizations in
demonstrations, the Baptist Heath Youth Art Competition Southeast Florida. Serving businesses
Gallery and the Amazon ArtiKids Zone. Tickets are only $15 in the 10 municipalities that make
per day with advance purchase and children 12 and under up Palm Beach North, the chamber
are free. More information can be found at artigras.org. fosters a partnership of private,
About Hanley Foundation public, educational and civic organizations working together economy, high quality of life for all residents, a smart
Hanley Foundation combats substance use disorders to ensure Palm Beach North is Florida’s “Prosperity Coast.” and connected region, and regional leadership. For more
within our communities by raising awareness and providing The chamber’s four strategic imperatives are: A prosperous information visit: www.pbnchamber.com.
education through quality substance use prevention

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