Parties Involved in a Trust
Reasons for creating a Trust
In addition to these, you can contact a lawyer or financial advisor to help you create a trust in order to reduce taxes, protect your assets and also protect your beneficiaries (for example your children) from going through the probate court process to divide your assets when you die.
A trust also gives you the power to decide to whom your assets will be disbursed and also how it will be disbursed. In the case of monetary assets, it can determine how the money will be paid out and in what frequency (if any). This is crucial if the beneficiary is a child or an individual who has a questionable character with money.