Friday, January 30, 2009

THIRD of TEN Hot Estate Planning Topics


THIRD, a Trust is an important document to have. A Trust serves many purposes. First, you can avoid probate since it is an alternative way of transferring property at death. Second, if you are concerned about privacy, a Trust works well. Unlike a will, it is not required to be filed when a person dies. Third, if you have property in multiple states, you can avoid probating in all the states where property is located if your property has been placed in a Trust. Fourth, it is an excellent vehicle for disability planning. You place your business in a Trust and if you become incapacitated your business trustee can continue to operate your business until you regain capacity.

Across the country, the topic of whether to have a Trust or not is discussed at length. Those who want to protect and preserve the assets they have acquired during their lifetime see a Trust as the most effective estate planning document. Share you thoughts here!!

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