Trusts Make Sense Even When You Aren’t a Billionaire

December 31, 2020
Bill O’Leary, Esq.
Asset Protection, Elder Care, Elder Law, Estate Planning, Power of Attorney

Done right by a lawyer, your heirs can avoid the expense and time of probating your will and may save on estate taxes, while easing the administration of your affairs while alive and after you have gone.

Different Trusts for Different Estate Planning Purposes

Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.

Why Even “Regular Folks” Can Benefit from Trust Funds

A trust fund is an account that gives a person control over who will receive their assets during their lifetime and/or at their death.

What You Need to Know about Trusts for Estate Planning

Trusts fall into one of two main categories. The first category is composed of those that are established while the grantor (one who establishes the trust) is alive and are termed inter vivos (while living) trusts.