It is common knowledge that the richest and most influential people in our country use trusts to protect their assets and privacy. These people use trusts because it is the most effective method available for protecting and preserving assets and for reducing personal liability. Many of these people have had real estate in trust for generations completely avoiding inheritance taxes and exempting their property from many laws that have passed since the beginning of the trust. They have also used these trusts for maintaining control of tremendous wealth while avoiding the personal wealth that would cause a large tax liability. The Common-Law Trust is the best way to protect assets, avoid probate and achieve tax relief.
Trusts also provide excellent mechanisms for protecting privacy.
The Trust, as a tool for achieving these benefits, is often under used and frequently misunderstood. This comes as no surprise when you consider the scarcity of written material on the subject. The only device that can effectively stand against serious legal challenge is a properly prepared Common-Law Trust. The Common-Law Trust is the best way to create peace of mind, security, and privacy for your financial affairs, and for providing benefits to your heirs for many generations. There are many different kinds of trust and it would require many volumes to cover them all.