A trust is a legal instrument that allows a person to place their assets in the control of a neutral third party (a trustee) to be used for the benefit of someone else. This allows assets to be passed to those you care about with a minimum amount of fees, taxes, etc.
Many people think about trusts as useful only for those with very large assets The reality is, trusts can be beneficial for virtually anyone. If you’re curious about how a trust can benefit your estate plan, don’t hesitate to reach out to a trusts attorney today!