Trust Services

Trust services are legal agreements allowing a person or organization to hold assets on behalf of another person or group. The trust services provider is the trustee, and the person or group who owns the assets is the beneficiary. 

At Nesso Wealth, we help you create a trust that works best for you and your family. We’ll handle everything from start to finish.

Understanding Trust Companies Like Nesso Wealth

At Nesso Wealth, we can help you by managing trusts, trust funds, and estates for individuals, businesses, and other entities. A trust allows a third party or trustee, like Nesso Wealth, to hold assets or property for a beneficiary or beneficiaries.

We generally employ several types of financial professionals, including financial planners, attorneys, portfolio managers, CPAs, other tax professionals, trust officers, real estate experts, and administrative personnel.

What Can We Do For You?

At Nesso Wealth, we specialize in investment and asset management services. Of course, one of our primary functions is managing the portfolios of our clients’ trusts. We either do this in-house or by selecting an affiliated third-party manager that we recommend to the client.

Many types of investments can help you reach different goals, such as growing your money or making income. You can also choose to invest in specific services designed for high-net-worth individuals, such as alternative investments like limited partnerships, natural resources, private equity, and hedge funds.

No matter your investment management type, we’ll customize it to match your risk tolerance and time horizon.

Types Of Trusts

Revocable Trust: A revocable trust is a type of trust that may be altered at any time. The people who will benefit from the trust could change, or the trust might be terminated. The owner of a revocable trust has complete control over it. Anyone can become the beneficiary or name someone else as the owner of a revocable trust.

Irrevocable Trust: An irrevocable trust is a precise and straightforward document that can’t be altered or dissolved without the beneficiary’s consent. Irrevocable trusts help avoid income taxes on donations and protect the beneficiary’s inheritance from creditors if they face financial difficulties later in life.

Other types of trusts include:

• Charitable trusts (consider that foundations and endowments for the wealthy are usually available as well)
• Intentionally defective trusts
• A living trust and testamentary trusts
• Second-to-die life insurance trusts
• Incentive trusts
• Generation-skipping trusts
• Marital trusts
• Retirement trust accounts, like IRAs and qualified plans
• Educational trusts
• QTIP trusts
• Qualified personal residence trusts

Nesso Wealth’s Estate Planning Services

What Is Estate Planning?

Estate planning is deciding what to do with your possessions after you die. This might include giving some of your belongings to relatives or charity and paying any taxes that may be due on the estate. You can usually set up an estate plan by working with a lawyer who knows about this kind of law.

How Does Estate Planning Works?

Estate planning is the management of a person’s properties and financial obligations if they become disabled. You can include many things in your estates, such as houses, cars, stocks, artwork, life insurance policies, pensions, and debt.

People might want to plan their estate for different reasons, like keeping the family wealth within the family or providing for a partner and children after they die. Another common cause is wanting to pay for grandchildren or great-grandchildren’s education or simply because they want to leave behind a legacy.

Estate planning revolves around constructing a will, but there are many other elements to consider as well. These are some of them:

• Establishing trust accounts with the beneficiaries’ names can help to limit estate taxes
• Selecting a guardian for dependents
• Naming an executor of the estate to oversee the terms of the will
• Making annual donations to qualified charities and non-profits will lower the taxable amount of your estate
• Creating or updating beneficiaries on plans such as life insurance, IRAs, and 401(k)s
• Organizing all funeral arrangements
• Setting up a POA, or durable power of attorney, to direct other assets and investments

We Cover Risk Management Matters

Our experts will assist you in aligning your estate plan with your financial strategy. Some of the things we do for you include beneficiary reviews, creating a will or trust, regular updates and checks, and more. We’ll guide you through frequently overlooked items that may put your loved ones in danger. We can help you consider the following:

• Living Will
• Blended Families
• Medical Power of Attorney
• Durable Power of Attorney
• Nontraditional Families
• Dementia
• Special Needs Trusts
• Second Marriages
• Creditor Protection

Why You Should Choose Nesso Wealth As Your Corporate Trustee

After you die, a will or trust legally instructs where your assets should go. As part of estate planning, we’ll help you create a will or trust that suits your needs. Identifying who to name as a trustee is one of the most crucial steps in this process.

Even if you take your time drafting your will and are precise with your phrasing, you may run into trouble if the trustee is a poor fit. You’ve worked hard to achieve your financial objectives, and your family deserves the help of an experienced professional. 

Let Nesso Wealth assist you throughout the process and avoid any hassles down the line. This is why you should choose us:

• Ability & Legal Knowledge
• Trust Management By Experts
• Continued Investment Management
• Experienced Professionals

Understanding Our Wealth Management Services

What Is Wealth Management?

Wealth management is an all-encompassing professional service that helps individuals and families identify, grow, protect, and transition their wealth.

At Nesso Wealth, our team of wealth management professionals provides a comprehensive approach to helping you manage your wealth. We work with you to create and implement a customized plan based on your unique goals and objectives.

How It Works

Wealth management is more than just investment advice. It can include all parts of a person’s finances, and high-net-worth individuals can benefit more from a plan that includes advice from a different and integrated approach.

With this method, a wealth manager from Nesso Wealth creates a strategic plan for their clients that meets current and future needs. Whether it’s will and trust services or business succession plans, this allows them to manage their assets more effectively.

Depending on the client’s needs, your wealth management advisor may have to gather input from other financial experts and professionals (such as an attorney or accountant). Some of our wealth managers also offer banking services or advice on philanthropic activities.

The Difference Between A Wealth Manager & A Financial Planner

A distinction between wealth managers and financial planners is that the latter is more focused on assets and investments. Whereas the former are concerned with day-to-day household finances, insurance requirements, and so on.

How We Can Help You With Legacy Planning

We want to help you understand legacy planning, including how your assets will be distributed under your current estate plan and existing tax laws. At Nesso Wealth, we work with our in-house team of:

• Attorneys
• Estate planning specialists 
• CPAs and any of your outside professionals to formalize your wishes. 

Nesso Wealth aims to minimize the administrative burden on your estate. At the same time, we ensure to maximize the value distributed to your loved ones and the organizations you cherish.