Are you overwhelmed by everything you need to do to create an estate plan? While it’s better to have everything in place now, if that’s too much to handle and would only result in your putting everything off forever, you can try tackling just one thing each month. January: Create Your Napkin Will Start out…
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.