Trusts & Estates in the US
Revenue for the Trusts and Estates industry, composed primarily of capital gains on trusted assets and ordinary dividends, exhibited substantial growth over the five years to 2019. The industry benefited from substantial yields in equity and fixed income markets in addition to appreciation in house prices. Industry revenue is composed of income generated by the trusts and estates themselves, which includes interest payments, dividends, business income, rental payments, royalties and capital gains. In addition to the performance of the underlying assets, the actual number of trusts and estates plays a crucial role in industry revenue growth. Despite the growth during the current period, the potential elimination of the estate tax could inhibit the future growth of the industry if it disincentivizes the establishment of trusts. Over the five years to 2024, the aging population and the growing number of wealthy households are anticipated to increase industry assets. However, deceleration in the growth of equity values, fixed income yields and house prices will contribute to positive, but subdued, return on assets held in trusts.
This industry includes personal trusts, estates and agency accounts that are managed on behalf of beneficiaries under terms of a trust agreement, will or agency agreement. Industry revenue is defined as the income generated by the assets in the entity. This may be in the form of interest, dividends and other investment income. Income may be held by the entity or distributed to beneficiaries. Fees for estate planning or drafting wills are not included in this industry’s revenue.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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