Should I still establish a trust if the Estate Tax is repealed?

A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a "trustee," holds legal title to property for another person, called a "beneficiary."

The following are some of the benefits of trusts.

  • Avoiding the costly and time-consuming probate process.

  • Protection for a person with a disability.

  • Trusts allow you to detail how you want to distribute your assets.

  • Trusts provide protection from creditors.

  • For a child with special needs, trusts ensure eligibility for government programs is not taken away.

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