Attorney Mary Szondy has been creating trusts for families for more than a decade. Wondering if a trust is right for your situation? Contact Mary Szondy today.
What is a trust?
A trust is a financial relationship in which one party gives control over assets to a second party, who holds those assets for the benefit of a third party.
A person can create a trust during their lifetime and know it will survive their death.
What are the benefits of a trust?
Trusts allow a person to:
- Control the distribution of their assets after their death
- Reduce some taxes
- Avoid probate court
While many assume that only wealthy families need trusts, people of many income levels could potentially benefit from setting up a trust.