The Purpose of a Purpose Trust with David Warren (Ep. 127)
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Take advantage of the full potential of your estate planning strategy by learning about purpose trusts. This episode, featuring David Warren from Bridgeford Trust, dives deep into innovative ways to protect your wealth for generations.
John and Michael Parise bring back David, co-founder and chairman of Bridgeford Trust Company, to explore the innovative concept of a purpose trust – an underutilized yet powerful tool for estate planning that can provide asset protection, perpetuate family values, and even accommodate unique needs like cryogenics.
Tune in as this conversation may help you transform your approach to asset protection and long-term financial planning!
John, Michael, and David discuss:
- An introduction to the purpose trust: its definition and primary functions
- Real-world examples, including charitable purposes and maintaining lifelong commitments such as taking care of pets or holding a family property
- The benefits of purpose trusts over traditional trusts, focusing on asset protection and longevity
- How South Dakota’s favorable trust laws make it an ideal jurisdiction for establishing these trusts
- And more!
Resources:
Connect with David Warren:
Connect with John and Michael Parise:
- 856-988-8300
- Copper Beech Financial Group
- LinkedIn: John Parise
- LinkedIn: Michael Parise
- LinkedIn: Copper Beech Financial Group, LLC
- Facebook: Copper Beech Financial Group, LLC
About Our Guest:
David Warren is the co-founder and chairman of the Board of Bridgeford Trust Company. With over 20 years of experience as an attorney in the financial services industry, David has a wealth of knowledge on working with ultra-high-net-worth families across the nation and around the world. As a leader at Bridgeford Trust Company, he shapes the strategic growth and brand development. Outside of his roles at Bridgeford, David often speaks throughout the country and around the world on modern and progressive U.S. trust law, addressing several professional organizations and audiences each year.