The Summit Trust: A Comprehensive Estate Planning Solution
The Summit Trust ™ is a highly specialized irrevocable trust designed to provide unparalleled asset protection, tax advantages, and estate planning flexibility. As a non-grantor, complex, discretionary, spendthrift trust, it not only safeguards your wealth but also helps minimize personal income taxes, defer capital gains taxes, and reduce your taxable estate for estate tax purposes.
Looking for a way to protect your assets and maximize tax savings? The Summit Trust is your solution for advanced financial security and legacy planning.
What Does The Summit Trust Do?
The Summit Trust combines powerful estate planning tools to help you:
Minimize Personal Income Tax: Its non-grantor status separates trust income from your personal taxes, potentially lowering your overall tax liability.
Defer Capital Gains Tax: Allows you to transfer appreciated assets into the trust, deferring taxes on gains until distributions or liquidation.
Reduce Taxable Estate: Removes assets from your estate, reducing exposure to estate taxes while still supporting your beneficiaries.
Protect Assets: Shields wealth from creditors, lawsuits, and divorces through its irrevocable and spendthrift provisions.
Provide Flexible Support: Enables the trustee to make discretionary distributions based on the needs of your beneficiaries, ensuring financial stability while preserving trust assets.
Why Is It Helpful?
The Summit Trust is an advanced tool designed to address complex financial and personal needs, offering both immediate and long-term benefits.
Key Benefits:
Personal Income Tax Savings: Trust income can be taxed at potentially lower rates by separating it from your personal income.
Capital Gains Tax Deferral: Defers taxes on appreciated assets placed in the trust, allowing for better tax planning and asset growth.
Estate Tax Reduction: Transfers assets out of your taxable estate, helping to reduce or eliminate estate tax liability.
Maximum Asset Protection: Shields assets from creditors, lawsuits, and divorces.
Legacy Preservation: Ensures your wealth is protected and available for future generations.
Real-Life Example:
Lisa, a successful entrepreneur, placed her appreciated real estate holdings into The Summit Trust. This deferred her capital gains taxes while simultaneously reducing her taxable estate. The trust also ensured her children would receive financial support, with assets protected from creditors and mismanagement.
Who Is This For?
The Summit Trust is ideal for high-net-worth individuals, business owners, or families looking to combine tax efficiency with advanced asset protection.
You should consider The Summit Trust if you:
Have significant income and want to reduce your personal tax liability.
Own appreciated assets and want to defer capital gains taxes.
Are concerned about estate taxes and want to reduce your taxable estate.
Want to protect assets from creditors, lawsuits, or divorces.
Need flexible support for beneficiaries while safeguarding assets from mismanagement.
Common Questions
1. How does The Summit Trust help reduce personal income taxes?
By separating trust income from your personal taxes, the non-grantor status of The Summit Trust can potentially lower your overall tax burden by taxing income at the trust level or distributing it to beneficiaries in lower tax brackets.
2. Can The Summit Trust defer capital gains taxes?
Yes, appreciated assets placed in the trust can grow without triggering immediate capital gains taxes, allowing for strategic deferral and tax-efficient distributions.
3. How does it reduce estate taxes?
Assets placed in The Summit Trust are removed from your taxable estate, helping to lower or eliminate estate tax exposure while still benefiting your loved ones.
4. Can creditors or lawsuits access trust assets?
No, the spendthrift provisions protect trust assets from creditors, lawsuits, and even divorces, ensuring your wealth remains secure.
Free Consultation
Take control of your legacy and maximize your tax savings with The Summit Trust. Whether you're looking to protect assets, defer taxes, or reduce your taxable estate, The Summit Trust offers unparalleled financial and estate planning benefits.
Click below to schedule your free consultation and learn how The Summit Trust can help you achieve your goals.
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Testimonials
"The Summit Trust was the perfect solution for our family. We deferred significant capital gains taxes while securing our estate for future generations. Justin’s guidance made it seamless." — Rachel S., Cottonwood Heights, Utah
"Justin’s expertise in structuring The Summit Trust saved us thousands in personal income and estate taxes while providing the asset protection we needed. Highly recommend!" — Michael T., Provo, Utah