In some of my past articles, we talked about how estate planning is important for everyone - from people of the most modest means to those with great wealth. Whatever your assets, you can control them now, in life, and later, after death, with careful planning. You can assure that your partner, spouse or family (even pets!) are protected to the best of your ability when you use the right estate planning tools.
Trusts are the backbone of most estate plans, so let’s review some of the most common types of trusts, and see how they work: