Trusts are the Swiss army knife of estate planning-they are versatile tools that can be used to achieve many different goals. But few non-professionals understand how they work.
Written by elder law and estate planning expert Harry S. Margolis,
The Baby Boomers Guide to Trusts: Your All-Purpose Estate Planning Tool
answers the many questions trust grantors, beneficiaries and trustees have, including:
· What distributions can you or must you make?
· How is the trust taxed?
· What fees may the trustee charge?
· Who has a right to accounts?
· How can a trust help you meet your tax, asset protection, and long-term care planning goals?
Featuring practical advice and easy-to-follow examples gleaned from the author's 30-plus years of experience in elder law and estate planning and questions posed by consumers on his website, AskHarry.info,
will help you know when to use a trust in your estate planning, how to manage it as trustees, and your rights as a beneficiary.