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Consider forming a trust for estate planning purposes from "summary" of The Tax and Legal Playbook by Mark J. Kohler
One powerful tool for estate planning that is often overlooked is the use of trusts. Trusts can serve a variety of purposes and provide numerous benefits to individuals looking to protect and preserve their assets for future generations. By establishing a trust, you can ensure that your assets are managed and distributed according to your wishes, even after your passing. There are several different types of trusts that you can establish, each with its own set of rules and benefits. One common type of trust is a revocable living trust, which allows you to maintain control over your assets during your lifetime while also providing a mechanism for distributing those assets upon your death. By placing your assets in a trust, you can avoid the time-consuming and expensive probate process, which can help to expedite the distributio...
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