Opportunity Trusts

Morris Law Group has developed a trust called an Opportunity Trust. The design of the trust provides the following benefits:

♦  the client may act as one of the primary trustees of the trust

♦  the client may control the trust’s investments and distributions to others

♦  assets are protected from creditors of the client and the creditors of any beneficiary

♦  the entire trust is excluded from federal estate taxation for a minimum of 360 years in Florida

The trust allows the trustees to distribute any amounts of income or principal to a pool of beneficiaries composed of the client, the client’s spouse and all of the client’s descendants. It may also allow the client to add any beneficiaries in the future.

During the term of the trust, the trustees may invest in any investments they desire. The trust may be a separate taxpaying entity and beneficiaries who receive the income have it taxed at their income tax rates or it may be taxed to the client on the client’s income tax return. 

One possible scenario of an Opportunity Trust™ in use is as follows: