As you create an estate plan, you will be faced with many questions. Here is one of the most important: What are the benefits of creating a trust?
While this is not the right type of arrangement for every estate plan, it could be just what you are looking for.
There are many benefits of a trust, including the ability for assets to avoid probate. This will save your loved ones time and money upon your death. Along with this, a trust is more private than a will, as the distribution is kept private.
What type of trust is right for you, your assets, and your family? There are many options to choose from, such as:
-- Revocable trusts
-- Irrevocable trusts
-- Living trusts
-- Life insurance trusts
-- Special needs trusts
-- Charitable trusts
-- A/B trusts
Every type of trust has its own set of benefits. You need to compare the advantages of each one, as this is the only way to make an informed and confident decision.
As one of the most powerful legal tools, many people decide to use a trust to make the most of their estate plan. If you have plans on doing the same, contact us via phone or online. From there, we can discuss the details of your situation.
The use of a trust has many benefits, but only if you choose the right type and set it up in the appropriate manner. Let us be your guide in making all the right decisions. You will be glad that you did.