Y ou may know that a trust can protect your assets. But did you know there are many types of trusts? Finding the right one for your unique individual circumstances could save your heirs from hassle and even keep them from paying out more on taxes. Not every trust is applicable to everyone’s financial or life situation, but two types of trusts may offer the most advantages. Learn more about the difference between a family trust and a living trust and the upsides of each kind.
If you haven’t created a will yet, now is the time to act. A recent survey found that a shockingly high number of Americans, about a third, haven’t yet made a will. They think their assets aren’t significant enough to designate who gets them, but that’s a common misperception. Even if you have minimal assets, you should create a will to avoid confusion after you are gone. Otherwise, it could put more stress on your family as they try to guess your wishes. So: Now you know why