“What Happens If I Am In the Middle of a Divorce and My Spouse Dies?” Short answer: Divorce proceeding ends because the marriage ended at the death of the person. Long answer: There still needs to be decisions about the money, things, property, and children. Now all these decisions are made in probate…
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.