What are the benefits of cost of living trusts?
An example of an AI chatbot conversation about the benefits of cost of living trusts.
What are the benefits of cost of living trusts?
Cost of living trusts can help manage assets, reduce taxes, and provide financial security for beneficiaries.
How do they differ from regular trusts?
Unlike regular trusts, cost of living trusts are specifically designed to address inflation and rising living costs.
Can you give me an example of how they work?
Sure! For instance, a cost of living trust can adjust distributions based on inflation rates, ensuring beneficiaries maintain their purchasing power.
Are there any downsides to setting one up?
Yes, potential downsides include setup costs and the complexity of managing the trust, which may require professional assistance.
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