The use of trusts in estate planning is a common way for individuals during their lifetime to transfer assets to their children and grandchildren. Generally, a trust can be established for any lawful reason. An individual may establish a trust to avoid probate, to reduce potential estate tax liability, to provide for the special needs of a disabled child or grandchild, or to fund a child or grandchild’s education. Other individuals utilize trusts for nefarious … Read more
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