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A trust is a legal arrangement to ensure a person’s assets go to specific beneficiaries. Trust accounts can hold bank accounts, houses, cars or other assets.
Trusts aren't just for very wealthy or complicated estates. They could be helpful for many "average" folks, too. Here are the basics of trusts: what they do, and how they can be used.
Wondering how to set up a trust? This guide will explain all that you need to know to put this type of arrangement in place.
Establishing a trust is one of the best ways to plan your estate ahead of time. In today’s guide, we will examine the function of a trust, discuss the types of trusts, and provide a step-by-step guide to help you set up a trust for yourself and your loved ones. Table of Contents.
A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to the beneficiaries.
Think of a trust as a special place in which ordinary property from your estate goes in and, as the result of some type of transformation that occurs, takes on a sort of new identity and often is bestowed with superpowers: immunity from estate taxes, resistance to probate, and so on.
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