During the estate planning process, the idea of establishing a trust may arise. Trusts are a common part of estate planning as they allow for assets to be protected. Your attorney in Tracy and Livermore can help you decide if a trust is right for your estate.
This video explains what a trust is and how they work. When you establish a trust, you create a set of rules about managing an asset the trustee must follow. The trustee must then distribute the asset to the beneficiary of the trust according to your guidelines. Trusts are often used in this way to preserve large inheritances until the beneficiaries reach a responsible age or otherwise achieve an established benchmark.