Optimal Finance Daily - Financial Independence and Money Advice 1517: What is a Family Trust and Should You Set One Up by Jeff Rose of Good Financial Cents
May 5, 2021
Jeff Rose, CFP®, talks about family trusts and whether or not you should set one up. He explores the advantages over a simple will, such as avoiding probate and transferring assets to the trust. Jeff explains the purpose and workings of a family trust, including maintaining control while appointing a trustee. He discusses the benefits of establishing a family trust, like minimizing estate taxes and an affordable online option. Lastly, he highlights the advantages of creating a family trust instead of a will, including immediate activation and protection against contests.
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