Difference between revisions of "Create a Trust Fund"
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Although the idea of a trust fund is generally associated with estate planning for the very wealthy, middle class families can also benefit from the tax advantages and privacy of a trust fund. The idea that you have to be rich to utilize a trust fund is a fallacy. Trust funds allow people to distribute their property and assets to beneficiaries without having to involve the courts in the probate process and without having to pay some estate taxes. You can set up a trust fund with the assistance of a trust and estates attorney, or you can draw up the documents yourself. | Although the idea of a trust fund is generally associated with estate planning for the very wealthy, middle class families can also benefit from the tax advantages and privacy of a trust fund. The idea that you have to be rich to utilize a trust fund is a fallacy. Trust funds allow people to distribute their property and assets to beneficiaries without having to involve the courts in the probate process and without having to pay some estate taxes. You can set up a trust fund with the assistance of a trust and estates attorney, or you can draw up the documents yourself. | ||
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== Steps == | == Steps == | ||
=== Understanding the Basics of a Trust === | === Understanding the Basics of a Trust === | ||
