What is a Trust?
Most Popular
•
1m 50s
A trust is commonly used to avoid probate and achieve more complicated outcomes than a will can accomplish.
When we establish a trust, we intend to give it ownership of our assets so that when we die, the trust lives on and probate is not triggered. To be successful, we must transfer our assets to the trust during our lifetime through a process called funding. Unless a trust is funded, it cannot operate as intended.
“Our assets are owned within the trust, and the trust lives on.”
If we have more than a few million dollars in assets, property in multiple states, or complications in our family situations that we’d like some control over after death, a trust may be a better option than a will.
Up Next in Most Popular
-
Is It Ok To Mourn?
Absolutely. It’s okay to mourn the loss of a good thing. The sorrow we experience after losing someone dear to us shows how much we loved that person.
It is acceptable and healthy for Christians to mourn when a loved one dies. Grief is a normal, very human reaction to loss, and it reminds us how...
-
How to Balance it all While Keeping Y...
How can we use clothing and makeup to help us live out our vocation as mothers more confidently? In the seasons of stress and busyness, it can be challenging to take the time for self-care. Join Nicole Caruso and learn how to carve out time to care for your body and soul.
-
Chapter 21: Fear
If fear is the primary obstacle for a person, the solution is similar to the solution for indifference. Exposure in gentle, simple, and easy ways will be the key to casting out fear. In this critical chapter, Father Mark-Mary explores this very real topic.
