Trusts are an excellent way to ensure that your assets are transferred to the beneficiaries that you intended and also may help you and your family avoid estate taxes or the costs associated with probate. A trust also gives an individual significant control of his or her assets without actually having legal title of those assets.
Because the law governing trusts is very complicated and any error or omission could have significant financial implications, it is important to have a qualified trust and estate planning attorney review your situation and determine whether or not a trust is appropriate for you and what kind of trust best fits your situation. Some of the ways a trust can benefit a person and their beneficiaries include:
These are just some of the most basic ways a trust can be used to protect and control the distribution of your assets. Trusts are very flexible legal devices and a skilled practitioner can ensure that you money and property go to the parties that you intend.
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