Should you create a trust for yourself or your child or children? Is there really a reason to, or is the trust just a solution for the ultra rich to keep money in the family?
The truth may be a surprise to most people. The trust is often used by families leaving more than 100,000 dollars to their children or grandchildren. This may be due to the encouragment and avice given by elder law, estate planning and trust attorneys. One reason is that when a parent or grandparent dies,the will is probated and those intended to receive the legacy may not receive it immediately, may not safeguard it, or may manage it porperly.
To learn more about trusts visit the Booth Harrington & Johns of NC, PLLC webpage www.nc-law.com or call (877) 503-5337 to make an appointment for estate planning or asset preservation in North Carolina.
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