Site icon John R. Frazier J.D., LL.M., MBA

Estate Planning and Trusts

Estate Planning and Trusts – What You Should Know

Estate planning and trusts are important factors that you must contemplate as you reach the later stages of your life. It is human nature to want to take care of those who you leave behind in this world; therefore, the idea of asset protection trusts that help your loved ones avoid probate and appointing someone to take care of your property and personal assets after passing away is ideal.

This way, you can make sure that your wishes are followed and that your family is well taken care of. Of course death does not just visit those late in life so it is much better if you handle these plans now.

Decisions about estate planning, and trusts of various types

The people who you appoint to oversee your asset protection trusts and living trusts are known as trustees. You can call on one single person to oversee your entire estate or you can appoint multiple trustees, who are each designated to a certain area of your personal assets.

You can also name trustees who have the ability to fire your existing trustees and contract new ones, in order to ensure that only the best decisions are made while handling your estate.

There are multiple types of asset protection trusts that you should look into while learning about estate planning and trusts. Let’s take a look at some of the most common types of trusts:

The more you learn about estate planning and trusts, the more you will realize just how crucial they both are.

To find out how we can help you with estate planning and trusts, please see our Estate Planning Practice Area.

For more information on how to avoid probate, visit our Free Article Index.

Exit mobile version