Wealth Management - BLOG
You don’t have to be Warren Buffet to need a trust. A trust is an excellent way for many people to protect the assets they’ve worked so hard to build and to ensure those assets pass on to the people or organizations of their choosing. The challenge is determining what kind of trust to establish.
In simple terms, a trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. There are many different types of trusts, each with its own benefits and sometimes potential pitfalls. Below are some of the more common trust options: