Far point| Trust

A "Trust" is not just for the rich. Maybe you need one...

Many people think a Trust is for the rich or powerful but it is also key legal strategy helping anyone with Estate assets and loved, ones who need protection, from the Courts, Probate, Lawyers and Creditors.

Here’s how a LivingTrust works: It is a legal entity created, managed and controlled by you as a separate “legal person” to manage your Estate while you live and distribute assets after you pass on

The Grantor of a Trust places valuable assets into the Trust and normally protects those assets from outside forces. Since the Grantor is also normally the Trustee, he or she. controls the assets as long as they live.

This Trust control keeps the Grantor’s assets private, sidesteps Probate, avoids public disclosure at death, mandates how the Estate assets are to be used and often times wards off creditors.

The Far Point Colorado interview process covers all the bases for the Grantor, including the key details, and then registers the Trust Agreement with the state of Colorado and the IRS.

A Colorado Living Trust

A Colorado Living Trust (also known as a Colorado Revocable Living Trust or just a Colorado Trust) has become a growing alternative to the traditional Colorado Last Will and Testament (“Colorado Will”) as a way to pass property on when one dies due to its flexibility and tremendous benefits while one is both alive and upon his or her passing.

In addition to providing for the disposition of one’s property, like a Colorado Will, a Colorado Living Trust also provides the following benefits:

Allows smooth transition of management upon incapacitation and death;
Provides care of disabled and handicapped children and grandchildren;
Can avoid Colorado probate proceedings and any other state you may own real property;
Can reduce settlement expenses in comparison to a probate proceeding involving Colorado Wills;
For married couples, minimizes and potentially eliminates estate taxes;
For beneficiaries, a Colorado Trust can keep assets out of their own estates which can further limit estate taxes;
Offers asset protection instead of distributing the assets outright.

Trust Formation Package

$499

Includes

File for corporate Trust status with the State of Colorado and the Internal Revenue Service
Register Trust name and organizational information with the State of Colorado
Obtain a Trust FIN/EIN from the IRS and registering the Trust’s IRS status with a IRS cover letter
Obtain a valid Colorado Account number; and support documents for the Trust
File initial applicable Sales Tax, Workman’s Comp, Employee Liability insurance and Department of Labor employment documents
Where applicable, provide, review and establish employee personal file to include:
Conduct and provide forms for “First Board Meeting” and legal notices
Assist Trustee with documents for insurance, banks, and government agencies

NOTE#1: This $499 fee is for Far Point Colorado services listed above and does not include extra charges required by government agencies, licensees, etc. Different government agencies have fees, deposits, etc for their filings, records, reviews, inspections and miscellaneous services. The new entity does not pay the full Far Point fee until all paperwork is finished and approved but a $250 deposit is required to cover filing fees as may be necessary. This is a “pass through” charge only and the exact amount for these fees will vary.

NOTE #2: The Employee files will be include up to five employees/officers. There is an additional fee of $25 per employee/officer.

NOTE #3: One general announcement/notification letter is included for banks, government agencies, insurance etc. Additional letters are $30 each.