Julie Landry Laviolette in the Miami Herald tackles the age old question: “Do I need a trust?
”It’s not only heiresses and socialites who can benefit from a trust. Used in the right circumstances, a trust can be a helpful estate planning tool to pass assets to your children, take care of your affairs if you are incapacitated, or dole out your wealth — whatever its size — in a certain way.
Trusts can be part of a simple estate plan that includes a will, power of attorney and living will.
Deciding whether you need a trust or not can be confusing. What is a trust? It is a legal entity that allows you to put conditions on how your assets are distributed after you die. It can help minimize estate taxes and avoid probate. It can also be used to protect an heir’s assets from creditors.
Read the entire article to learn more about trusts can benefit the following people:
Read the entire article to learn more about trusts can benefit the following people:
A COUPLE WITH YOUNG CHILDREN
A SINGLE PERSON
A COUPLE WITH GROWN CHILDREN
FAMILIES WITH SECOND MARRIAGES