Trusts - An Introduction
There are many kinds of trusts, and many are extremely complicated and expensive. There are basic Trust principles and some considerations in deciding whether you ought to prepare a Trust.
Perhaps some of the most discussed legal documents in the past few years are trusts. One of the most common is a "living trust," but there are trusts which serve a variety of purposes. Some trusts may aid in estate or tax planning, others may be for the benefit and care of children, and still others can simply be created to avoid probate. When you create a will, in most states, you are going to end up in a court probate proceeding of some type.
This is an area of strict statutory rules and in order to have peace of mind that you have prepared your trust properly, you must understand the applicable rules of your state and how they operate to affect your trust. This is an area which is best left to an attorney. We encourage you to contact member services to be paired with a local attorney with a specialty in this area.