For centuries, trusts have been formed to provide safety and protection for valued assets. This old technique has become even more popular with recent changes in the law, which allows trusts to be useful not only to the wealthy, but anyone who has an asset that they feel needs protection from creditors, divorce or from beneficiaries who cannot be trusted to own the property themselves.
These changes have also reduced the ongoing costs of maintaining trust, making it a very attractive tool in an estate planning attorney’s tool box. For an introduction to this useful estate-planning tool, read Peter Klenk’s new article, What is a Trust? An Introduction.
Wills, Trusts and Estates, It’s All We Do!