How do I set up a trust fund?

Setting up a trust fund involves several crucial steps: The upcoming sections will delve into each step, providing all the necessary information to establish a comprehensive estate plan and trust that accurately mirrors your intentions and serves your beneficiaries' best interests.

Should you set up a trust fund?

Setting up a trust fund is one of many ways you can transfer money, property, and other assets to your loved ones or worthwhile causes. Like a will, it’s an estate planning tool that outlines how your affairs should be handled after you pass. But a trust fund actually provides more control, privacy, and specificity.

How do I create a trust?

1. Determine the Purpose of Creating the Trust 2. Decide What Kind of Trust to Create 3. Identify the Trustee and Beneficiaries 4. Choose What Assets to Transfer 5. Create the Appropriate Legal Documents A trust is a legal arrangement in which you separate the ownership of your assets from the possession and management of those assets.