
Everything You Need to Know About Trusts
You may have heard the term “trust” discussed in financial advising or estate planning conversations, but what exactly is a trust? In the most basic terms, a trust is a legal arrangement in which assets are held for the benefit of someone else (the beneficiary). There are many types of trusts for various goals, and complex trust law makes it necessary to hire an experienced attorney to help you establish one. But learning the basics can help you figure out if a trust is right for your planning needs, and your financial advisor can certainly help guide you in the right direction.