TRUSTS CAN play an important part in meeting your estate planning goals. A trust is a legal entity that holds assets that are intended to benefit others. Trusts can help you plan for incapacity and control how your assets are distributed after your death. While it usually takes an experienced estate planning attorney to prepare a trust document to meet a specific purpose, it is helpful for anyone considering using a trust to have an idea of some of the basic concepts involved.
There are three key groups involved in the workings of a trust. They are:
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