Trusts

Trusts are an important form of estate planning and asset protection. Through the use of various types of trusts including living trusts, irrevocable trusts, family trusts and spendthrift trusts, it is possible to transfer ownership of property and assets to a separate legal entity. By placing assets into a trust, a person can protect those assets from creditors, avoid inheritance taxes when leaving money to children or other heirs, and otherwise safeguard the money and possessions they have worked hard to acquire. There are, however, rules associated with how various types of trusts are created and managed. In this section you will find information on how the process works, the different types of asset protection available, how to establish a trust and what a trust can do for you.