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When Trusts Terminate: Preparing for a Windfall
You may be surprised - learn what to expect when your trust terminates.
As a beneficiary of a terminating trust, it is important to understand the timeline for when you will receive your distribution, what form it might take, and the choices you may need to make.
• It can, in some cases, be more than a year from the time a trust terminates to when a beneficiary receives his windfall. Learn the types of circumstances that affect payout timelines.
• Many trusts hold a variety of assets. Learn the differences between cash and in-kind payouts and the considerations that might affect the form distributions take.
• Some beneficiaries choose to keep their inheritances managed together. Weigh if this makes sense for you.
• What you choose to do with your inheritance can affect your existing wealth plans or precipitate the need for additional planning.
Receiving a trust distribution may take some time to actually occur, and there are a number of decisions you may need to make. Learn your options, what to expect, and how to plan for your financial windfall
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The PNC Financial Services Group, Inc. (“PNC”) uses the marketing name PNC Center for Financial InsightSM to provide wealth planning education to individual clients through its subsidiary, PNC Bank, National Association (“PNC Bank”), which is a Member FDIC. Securities products, brokerage services, and managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member of FINRA and SIPC. Insurance products may be provided through PNC Insurance Services, LLC, a licensed insurance agency affiliate of PNC, or through licensed insurance agencies that are not affiliated with PNC; in either case a licensed insurance affiliate may receive compensation if you choose to purchase insurance through these programs. A decision to purchase insurance will not affect the cost or availability of other products or services from PNC or its affiliates. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”). Investment management and related products and services provided to a “municipal entity” or “obligated person” regarding “proceeds of municipal securities” (as such terms are defined in the Act) will be provided by PNC Capital Advisors, LLC, a wholly-owned subsidiary of PNC Bank and SEC registered investment adviser.
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