 |
|
 |
|
|
TrustsA Trust, if properly drafted, allows your heir to access the gift you leave them but protect the gift from their spouses, creditors and from future death taxes. If your heir will not immediately spend the gift you are giving them, there is a good chance that the gift is best placed in trust with the beneficiary named as his or her own trustee. There is no need for a bank or attorney if the trust is properly drafted. Simply put, a trust is an arrangement where one person, (the Grantor), gives some property (cash, real estate, etc.) to another person (the Trustee) to be held for third person (the beneficiary). A trust can be very simple or very complex. |
Copyright © The Law Offices of Marchese & Maynard 2006 |