Here are seven tips to help safeguard your business from fraud:
- With a trust, your assets go directly to your heirs upon your death, without passing through probate - a legal process that determines if a will is valid. This means your heirs will get their money sooner, without probate costs.
- A trust is private and, unlike wills, does not become public record.
- A trust can help protect your property. If you own multiple properties, each of these is subject to court review in the state where it's located. With a trust, you can avoid the probate process all together.
- Written properly, a trust can help reduce state and federal estate taxes.
- And a trust allows you to decide when your kids are mature enough to manage their inheritance independently. It also lets you divvy out assets over time.
We're getting older. And while no one likes to think about the inevitable, it's essential to plan ahead.
Let's start by dispelling a common misperception: estate planning does not need to be complicated.
In fact, a trust is a helpful estate planning tool that allows you to pass assets to your heirs and even takes care of you if you're unexpectedly incapacitated.
Here are five reasons why you need a living trust:
That's information worth knowing.
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