Creating a Trust

[fgs]

What is the name of your state? GA
On CNBC last week one of the financial analysts was talking about creating a trust to protect an elderly parent's assets, or to avoid probate. She didn't go into any detail. Can anyone here provide any assistance on the benefits/problems with this? Thanks in advance.

 

[Dandy Don]

There are different types of trusts to accomplish different types of tasks according to your needs. Go to the library and check out 1-2 books about trusts to educate yourself about them, and then contact a certified financial planner or estate planner (consult your local yellow pages directory) or talk to a customer service representative in your bank (if it is large enough to have a trust department) and you can find the one that best suits your needs.

 

[Caglitz]

go to intuit.com, as they sell these software preparation products. they have a good section on discussion of the different types of trusts.