SETTING UP A TRUST

A trust is a way to leave your money so that it avoids probate, takes full advantage of tax benefits, and accomplishes what you desire either before or after you are gone. In a trust, you assign part or all of your estate to a trustee or trustees to manage and distribute in a manner prescribed by you. It is a way to control the release of your money after your death. This can be done to protect and enhance the lives of others, usually those dear to you. Things are prearranged for your beneficiaries because you won t be around to do it yourself. 

In other words, a trust can be any arrangement you choose that maintains and distributes your estate. It is your money, so it is your responsibility to call the shots. Arrangements, however, can be highly complicated. 

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