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Estate Planning
: Minnesota Estate Planning BlogWhat is a Trust?
By admin
I am often asked this question. What in the world is a trust and how can they work for me? For the time being I am going to defer to Joel Shoenmeyer from the Death and Taxes Blog. Check out his podcast explaining trusts here.
In a nutshell Trusts are vehichles in which property is owned. The trustee (the person in charge of running the trust) has a duty to use the property for the benefit of the beneficiary (the person that the trust helps) based on the language and rules in the trust.
To learn more about trust or to see if they are right for you please contact an estate planning attorney. I am always happy to speak with anyone that has questions at no charge. You can contact me at (952) 356-6470 or via email at james@jtandersonlaw.com
Full post as published by Minnesota Estate Planning Blog on April 28, 2008 (boomark / email).
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