Pick The Perfect Trust

By Investopedia. May 7th 2016

Everyone, including the rich and not-so-rich, should have an estate plan to ensure that the maximum amount of the estate's assets pass to the owner's beneficiaries. Failing to appropriately plan ahead can lead to family conflict, unexpected taxes and higher probate costs, all of which are worth avoiding. Many people think a simple will is the answer. Unfortunately, although wills are important estate planning tools, they often aren't enough to do the job. An estate plan of any level of sophistication should include the use of one or more trusts, which are often used in conjunction with, or in addition to, a will. This article will outline the most common types of trusts and their characteristics and benefits.

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