New Hampshire | Wills and Trusts
Legal Question
Revocable Trust
What are the advantages of having a revocable trust? Can you explain what a trust is?
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Read More Answered By: Bruce L. Dorner |
Re: Revocable Trust There are many types of revocable trusts. The way to view a trust is that it is a storage cabinet to hold ownership of all or certain assets separate from the individual. It may or may not offer some benefits for estate planning purposes. However, the use of a trust requires careful attention to detail. Failure to properly transfer assets out of your name and into the trust can make it useless. The only way to be sure if you would benefit from a trust is to meet with an attorney to review all of your goals and objectives to determine what is the most cost-effective approach to solving your estate planning problems. Trust are not a one-size-fits-all document and can be quite expensive.
And a trust is not a substitute for a will. It is in addition to a will.
http://BruceDorner.com
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