PHOENIX - Arizonar -- Matthew Perry played Chandler Bing on the wildly successful sitcom Friends. Off-screen, Perry's life has been a testament to smart financial planning and strategic estate management. As the tabloids dug around for estate information, all they could find was $1.5 million in a bank account that ended up in probate. A small amount compared to the vast fortune Perry built.

Perry's other assets were in a trust. By leveraging a trust, which is private, rather than a traditional will, Perry demonstrated the substantial benefits of this strategic move.

Understanding Trusts and Wills

A will is a legal document that outlines how a person's assets will be distributed after their death. Although it's a common estate planning tool, a will often goes through probate – a legal process that can be time-consuming, costly, and public.

A trust is a fiduciary arrangement that allows a third party, or trustee, to manage assets on behalf of beneficiaries. Trusts offer several advantages over wills, such as avoiding probate, providing privacy, and allowing for more complex arrangements regarding the distribution of assets.

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Matthew Perry needed a reliable and private method, like a trust, to protect his assets. Here are a few benefits of using a trust

• Avoiding Probate. Probate can be a lengthy, expensive process.
• Ensuring Privacy. By using a trust, Perry ensured that his estate plan remained private, safeguarding his and his beneficiaries' confidentiality.
• Flexibility and Control. Perry could set specific terms and conditions regarding asset distribution, catering to his beneficiaries' unique needs and circumstances.
• Protecting Beneficiaries. Trusts can incorporate protective measures to ensure that assets are transferred securely and shielded from possible disputes, providing peace of mind that his estate would be used as he intended.
• Philanthropic Goals. Perry was known for his charitable activities. He could ensure that a portion of his estate would continue to support the causes he cared about

For anyone considering estate planning, trusts present a robust, flexible, and private option.

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About Trajan Wealth
Trajan Wealth, LLC was founded in 2012 by CEO Jeff Junior. Before his 20+ years in the financial services profession, Jeff served in the United States Marine Corps. He continues to serve his clients and employees with service, respect, and attention to detail.

By using low-cost, diversified portfolios under its fiduciary standard and working closely with its investment advisors and estate attorneys within one office, the company provides long-term support for client's retirement needs and estate plans, including wealth accumulation and tax planning strategies. The firm has locations across Arizona, Colorado, Florida, Georgia, Texas, Utah, and Illinois.

Disclaimer:
*Advisory services offered through Trajan® Wealth L.L.C., an SEC registered investment advisor. Legal services are offered through Trajan® Estate, L.L.C. in Arizona and Utah, and independent law firms in other states. Private equity may require accreditation.