Friday, March 28, 2014
- Avoid probate- A trust will bypass probate, which will save your family members money.
- Provide for a person with special needs-Dependants with special needs can protect assets without ruining eligibility for government benefits.
- Privacy-A trust is private.
- Blended families- A trust provides flexibility for blended families.
- Out-of-State property- If you own real property in another state transferring the property using a trust is easier than transferring property in a will.
- Asset protection - Using a trust will protect your assets from creditors.
See Bonnie Bowies, 6 Ways a Trust is Better Than A Will, Denver Estate Planning Examiner, Mar. 18, 2014.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.