Three Ways a Trust Can Protect Your Family

Many people still believe that a trust is only for the very wealthy.  On the contrary, a trust allows someone, of even modest means, to ensure that his money is distributed as he wishes after his death. The top three benefits of a trust are:

MORE CONTROL. A trust can set rules or conditions about when and how money is released.  For example, you can establish a trust that sets a specific age or a milestone, such as graduation from college, as a condition for an inheritance to be paid.

PROTECTION.  A trust can make sure that your children, or their children, will receive their inheritance even if you divorce or remarry.  It can also help shield assets if your heirs divorce or are in a high-risk profession.

INVESTMENT GUIDANCE. A trust allows you to appoint a professional trustee to handle a family business or investment properties, so that your heirs are protected from making expensive mistakes due to their inexperience.  The trustee can stay in place for younger heirs until they reach an age that you feel is mature enough to let them manage their own money.

Please contact us for more information or to schedule a free estate planning consultation!

(Image:  Google/thebalance.com)

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Legal Strategies, P.C. 

Terri North is the Macomb County, Michigan attorney who heads up the Legal Strategies practice. Legal Strategies assists clients in the areas of estate planning, probate and real estate. 
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