Trusts

Trusts are a device used to control the distribution and use of assets.  Very simply, they are a contract entered into by three (3) parties: one individual gifts property into the Trust, one individual takes legal ownership and administers the Trust property, and one individual receives equitable interest and enjoys the benefits of the Trust property.  Trusts come in every shape and size, although the most common you hear about are Spousal Trusts, Trusts for Minors, or Special Needs Trusts.

The nuts and bolts of Trusts are complex, so you are encouraged to ask questions during a consult.  There are merits to Trusts, generally, and specific merits to individual Trusts, although there are administrative concerns that might offset.   

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