A trust is useful for many things. A revocable trust allows you to structure disability planning so that you can seamlessly manage your affairs in the event of your disability. A trust is useful for protecting young or inexperienced children until they gain sufficient experience to manage the money themselves. A trust can protect disabled individuals as well and ensure they qualify for government assistance. It also is helpful in assisting individuals with substance abuse issues or financial problems manage an inheritance. A trust is useful for asset protection planning for you and your children. It also allows you to engage in state or federal tax planning. Trusts are highly flexible and can manage assets for almost any conceivable circumstance. The key to establishing a trust is to make sure it is tailored to your goals and that it addresses your concerns.
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