Military professionals often have to face the prospect of austere training environments, combat, overseas deployment, and unconventional missions. Because of these risks, the need to have something substantial for family members who are left behind is vital. In the case of female servicemembers, the need to have an excellent estate plan cannot be overemphasized. Why? Often,…
The most basic way to understand a trust is the analogy of a “box”, A trust is a legal document that builds a “box” which can hold certain of your things (i.e. assets) such as home(s), cars, money.
The “box” is then watched over by someone you appoint in the document, i.e. Trustee. The trustee watches over whatever things that are in the box for the benefit of others.
Trusts can be confusing, but they can be an important part of your estate plan.