Estate planning has many facets, with a wide variety of tools available for consideration. One tool is trusts, typically experienced as a great way to ensure that money gets to intended beneficiaries and is used for specific purposes across specific periods of time. Trusts can be a critical part of estate planning, but it is important to use them well by understanding their advantages.
When some people think about estate planning, they think about writing out a will that lets their loved ones know how they want their assets divided. Many people will probably be surprised to learn that there is much more to estate planning than simply writing out a will.