What is a Trust?
Will Block
May 03 2023 19:00
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What is a Trust? The most basic way of explaining what a trust is, is when one person gives property to a second person, not for the second person to own, but for them to use on behalf of a third person. So if you say, when I die, I want my sister to be in charge of all of my money for my kids, that concept is what a trust is.
There's a lot more complexity that we can put into it. We have got a lot of flexibility and tools that we can use along with that, but that is the basic idea - is simply that that one person is holding assets for the benefit of someone else.
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This video is for informative purposes only. It is not intended as legal advice. Small details can have big consequences. Want to know more about Estate Planning , schedule a free consultation with us.
This video is for informative purposes only. It is not intended as legal advice. Small details can have big consequences. Want to know more about Estate Planning , schedule a free consultation with us.
