Trusts

Trusts are particularly helpful tools to transfer your assets/property upon your death and avoid the expensive process of probate. With a trust, you can manage your assets/property during your lifetime, and appoint a successor trustee to manage your assets/property after your death. Trusts allow you the flexibility to account for changes that occur in your life and in the lives of your family.

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Are trusts just for the wealthy? This is a question that comes up often. The need for a trust has less to do with the value of your property, and much more to do with the complexity of your situation. If any one of the following scenarios is true for you, then you should at least consider a trust: second marriage, step-children, disabled children, pre-deceased child, spend-thrift child, no children or spouse, owner of a family farm or business, anticipate future inheritance, need to plan for long term care of a spouse or child.