Retirement and estate planning can be a complicated process. Let’s face it. You have worked a lifetime to amass enough money and assets to get you through your retirement years or provide for your loved ones, and no one wants all of the work to amount to nothing. Crafting a retirement and estate plan means…
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.