Trust

What is a Trust?

A trust is a legal document that sets up a new legal entity in which the creator of the trust transfers their assets (like their home or certain bank accounts) into their trust. The creator names a designated person to be the trustee after the creator dies (or becomes incapacitated). The trustee follows the instructions in the trust to manage and distribute the assets.

Trusts offer flexibility and control over how and when beneficiaries receive their inheritance, and, for exceptionally large estates, may provide some estate tax planning.

Why does my family need a Trust?

It is a way to distribute your assets to your beneficiaries while avoiding Probate Court that can be time consuming and costly.