Trusts Can Satisfy Many Different Objectives

The importance of trusts in estate planning is seen in their ability to minimize estate taxes and hopefully avoid probate.  A trust is basically a fiduciary agreement, one based on trust and confidence, between the person making the trust (grantor) and the trustee.  This agreement gives the trustee the authority to manage the assets of the trust and distribute those assets to the beneficiaries as specified in the trust agreement.  There are several different types of trusts with their own objectives.  Here is what you need to know. The primary benefits of a trust Trusts, like wills, are used to control your assets, including when and to whom your assets are distributed.  A trust can also provide protection in situations where your beneficiary may not be as skilled at managing their own money.  Having a trust can also mean that your estate will not need to go through the lengthy, public, and expensive probate process. Revocable trusts and their benefits All trusts are categorized


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s