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
-
¿Qué sucede en la Confirmación?
El Espíritu Santo suele ser representado como fuego, por ser poderoso y porque transforma todo. El Sacramento de la Confirmación, que nos sella con el Espíritu Santo, también cambia nuestras vidas. La Confirmación nos incorpora más firmemente en el cuerpo de Cristo. También fortalece nuestra rela...
-
Scivias: Episode 18 - Complementarity...
-
Liturgical Orphans with Deacon Charli...
Did you know that 42% of U.S. Catholics are Latino? If you only count those aged 18 and younger, it's 63%. So how is it that our Catholic communities have become so segregated? In this eye-opening talk, Dcn. Charlie Echeverry calls attention to the “powderkeg” that is the Latino Catholic communit...
