Lifetime Benefits Chart

Lifetime Benefits Chart compares the Advantages and Disadvantages of a Private Asset Trust, Living Trust, Corporation/LLC, and a Will

LIFETIME BENEFITS	With a Will	PRIVATE ASSET TRUST	Living Trust	Corporation or LLC
Buy, Sell, Loan, Borrow or Pledge Assets	Normal	Trustee or Manager Must Sign	Trustee Must Sign	Officer Must Sign
Flexibility to Do as You Want	Normal	YES	Yes, Sometimes	Shareholders Must Approve
Maintain Privacy of Beneficiaries	No	YES	No	Seldom
Maintain Privacy of Control	No	YES	No	No
Separate and Protect Individual Assets	No	YES	No	Sometimes
Establish Credit Separate from Personal Credit	No	Sometimes	No	Sometimes
Separate Business and Personal Affairs	No	YES	No	Sometimes
Limit State and Federal Taxes	No	YES	No	Sometimes
Limit State and Federal Taxes	No	YES	No	Sometimes
Limit Self-Employment Taxes	No	YES	No	No
Limit Lawsuit Liability	No	YES	No	Sometimes
Change Beneficiary Interests as Desired	N/A	YES	Sometimes	No
Allow for Private and Government Health Care	No	YES	Sometimes	No
Earn Income Without Affecting Social Security	No	Sometimes	No	No
Documentation and Accounting Requirements	Normal	Normal	Normal	Extensive
Annual Reporting and Annual Fees	No	No	No	Yes
Valid in Multiple States	Sometimes	YES	Sometimes	No, Unless Each State Paid
Startup Costs	Minor	About Same as Corporation	About 1/2 of a Corporation	High if Properly Organized
Annual Costs	Minor	Minor	Minor	High if Properly Organized
Difficulty of Management	Minor	Minor	Minor	Medium if Properly Maintained

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