July 2012 Archives

July 12, 2012

Family Trust

Setting up a family trust is one of the most common types of estate planning methods. Also known as a living trust, this method involves transferring ownership of personal belongings and financial assets so property does not have to go through probate for settlement procedures.

While it isn't difficult to arrange a family trust, most people find the process somewhat daunting. They are uncertain about terminology and legalese and sometimes fail to properly fund the trust which can result in major problems at the time of death.

The simplest way to setup trusts is to work with estate attorneys. These lawyers have endured years of specialized training to help people protect estate assets and reduce inheritance and estate taxes.

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