Whether you are wealthy or not, a well-designed trust can make your financial planning much more successful. Trusts can ensure that your assets will go to your intended beneficiaries rather than giving unnecessarily to creditors, former spouses, estate taxes, long-term-care bills or other threats. Gideon Rothschild, attorney at MSI's New York law member Moses & Singer explains why.
Whether you are wealthy or not, a well-designed trust can make your financial planning much more successful. Trusts can ensure that your assets will go to your intended beneficiaries rather than giving unnecessarily to creditors, former spouses, estate taxes, long-term-care bills or other threats.
Unfortunately, many trust documents contain language that limits their ability to protect assets — and no one notices the problem until it is too late. If you don’t have a trust, there’s a good chance that you should have one. And if you do have a trust, make sure that it does not include certain terrible mistakes.
Read the full article Can you trust your trust? which was published in BottomLine personal
