How do legal trusts work?
Getting ready to move to assisted living so protecting my little assets.
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4 Answers
This is a good question to ask an attorney, and the laws probably vary from state to state, so they would be specific to your state.
I am. On the 11th. Just want to get a feel for what I’m in for, before hand
@Dutchess_III The trust “locks in ” ownership, and determines how the assets are distributed upon death. They are not a financial instrument, so a trust that owns a house does not get interest, but a trust holding treasury notes does, and a trust owning stocks would get any dividends paid.
These are all questions for your meeting with the attorney.
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